SELL ZINC JUN @ 367 SL 370 TGT 364-361. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUN @ 386 SL 389 TGT 383-380. MCX
Observations
Aluminium trading range for the day is 379.5-391.7.
Aluminium dropped as investors turned to the US dollar following stronger-than-expected US jobs data.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.6% from last Friday.
Guinea's stricter controls on bauxite exports have added to concerns over tighter raw material supplies.
Copper
SELL COPPER JUN @ 1345 SL 1355 TGT 1332-1322. MCX
Observations
Copper trading range for the day is 1305.2-1387.8.
Copper prices fell with risk sentiment in growth-dependent metals affected by renewed worries about inflation.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 4% this week to 169,512 tons, the lowest since end-December.
Available stocks in LME-registered warehouses, according to daily LME data, are at 240,050 tons, the lowest since February 24.
Zinc
SELL ZINC JUN @ 367 SL 370 TGT 364-361. MCX
Observations
Zinc trading range for the day is 360.6-372.6.
Zinc dropped as US dollar rose after stronger-than-expected US jobs data.
However downside seen limited supported by tightening supply conditions following recent disruptions.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange up 0.9% from last Friday, the exchange said.
