Sell Zinc MAY @ 264 SL 267 TGT 261-259. MCX - Kedia Advisory
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ALUMINIUM
Observation
Aluminium trading range for the day is 231.6-237.4.
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
Observation
Copper trading range for the day is 855-873.4.
Copper dropped amid a lack of clear demand improvement from the troubled Chinese property market.
However, downside seen limited amid hopes of stronger demand in China, where authorities are planning further measures to prop up the economy.
Chile saw exports of the red metal reach $4.19 billion in April, up 25.3% from a year earlier.
SELL COPPER MAY @ 868 SL 873 TGT 863-860. MCX
ZINC
Observation
Zinc trading range for the day is 256.2-266.8.
Zinc gains due to weakening U.S. dollar and increased market concerns about potential deficits.
Chinese smelters aim to boost exports to benefit from global prices.
Fees for processing zinc concentrate fell to their lowest level since 2013, 33%.
SELL ZINC MAY @ 264 SL 267 TGT 261-259. MCX
