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03-05-2024 09:16 AM | Source: Kedia Advisory
Sell Zinc MAY @ 258 SL 261 TGT 255-253. MCX - Kedia Advisory

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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 226.1-240.3.

Aluminium prices dropped amid slower manufacturing activity growth in top consumer China.

LME aluminium stocks reduced to 171,200 tonnes, representing the weakest level since August 2022.

China's March aluminium imports jump 90% on – year

SELL ALUMINIUM MAY @ 233 SL 235 TGT 230-228. MCX

 

COPPER

OBSERVATIONS

Copper trading range for the day is 832.3-868.1.

Copper fell as commodity funds took profits and assessed the outlook of US manufacturing.

Factory activity in the US unexpectedly contracted in April

China's copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years.

SELL COPPER MAY @ 850 SL 855 TGT 845-840. MCX

 

ZINC

OBSERVATION

Zinc trading range for the day is 249.8-261.6.

Zinc gains amid supply disruption concern and optimism around China's economic recovery.

The global zinc market surplus widened to 40,100 metric tons in February from 12,300 tons in January

Zinc production at Nyrstar's Budel smelting operations in the Netherlands will resume

SELL ZINC MAY @ 258 SL 261 TGT 255-253. MCX

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