Sell Zinc MAY @ 260 SL 263 TGT 257-255. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 224.4-242.4.
Aluminium gains as smelters in Yunnan, remained subject to production curbs.
Supply prospects were further hurt by fears that Western consumers will be hesitant to engage in Russian metal buying outside LME contracts.
China's imports of unwrought aluminium and products jumped 89.8% at 380,000 metric tons in March
SELL ALUMINIUM MAY @ 236 SL 238 TGT 233-230. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 854.3-875.1.
Copper rebounds on weak dollar after US jobs data
ICSG made a sharp cut to its estimate for a global surplus this year, to 162,000 tons from the 467,000 tons forecast in October.
Cobre Panama, the world’s largest open-pit copper mine was suspended, while power cuts in Zambia hit key mines.
SELL COPPER MAY @ 870 SL 874 TGT 865-860. MCX
ZINC
OBSERVATION
Zinc trading range for the day is 254.5-262.3.
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 @ 260 SL 263 TGT 257-255. MCX
