Sell Zinc Jun @ 258 SL 260 TGT 255-242. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 231.7-238.5.
Aluminium settled flat amid stronger-than-expected U.S. employment data.
China’s trade data showed better-than-expected exports, suggesting factory owners were managing to find buyers overseas.
Global primary aluminium output in April rose 3.3% year on year to 5.898 million tonnes
SELL ALUMINIUM JUN @ 237 SL 240 TGT 234-232. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 844.9-874.3.
Copper bounced from lows as the focus shifted to demand potential after a sell-off.
Surveys of purchasing managers in China show factory activity picking up, particularly at smaller companies.
SHFE stocks have reached four-year highs of 336,964 tons, compared with about 30,000 tons in January
SELL COPPER JUN @ 865 SL 870 TGT 860-850. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 243.6-263.
Zinc gains on short covering after prices dropped amid evidence of low demand in the near term.
China’s manufacturing PMI came in below market expectations, pointing to a contraction in manufacturing activity
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%
SELL ZINC JUN @ 258 SL 260 TGT 255-242. MCX
