Sell Zinc May @ 262 SL 264 TGT 260-258. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAY @ 245 SL 247 TGT 243-241. MCX
OBSERVATIONS
Aluminium trading range for the day is 238.2-248.2.
Aluminium gains on hopes of steady US-China trade, boosting manufacturing view.
US and China agreed to lower tariffs against each other for the upcoming three months, supporting demand for Chinese factories.
Japan's April aluminium stocks rise 3.4% m/m in April
Copper
SELL COPPER MAY @ 863 SL 868 TGT 857-852. MCX
OBSERVATIONS
Copper trading range for the day is 850.9-869.5.
Copper settled flat as investors assessed the broader economic implications of the temporary US-China trade agreement.
Washington and Beijing agree to reduce tariffs to 30% and 10% respectively for a 90-day period
However, ample ore production from South America has exacerbated the market’s surplus outlook.
Zinc
SELL ZINC MAY @ 262 SL 264 TGT 260-258. MCX
OBSERVATIONS
Zinc trading range for the day is 252.9-266.3.
Zinc up as US-China 90-day tariff pause boosts hopes for demand, averts recession.
Providing further support, the U.S. dollar extended losses following its biggest decline in more than three weeks.
Global refined zinc demand is forecast to rise by 1% to 13.64 million tons this year
