Sell Zinc May @ 267 SL 270 TGT 263-260. MCX - Kedia Advisory
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ALUMINIUM
Observation
Aluminium trading range for the day is 229.6-235.2.
Aluminium gains underpinned by investors' hope for Fed rate cuts and rising demand in China.
China's consumer prices rose for a third straight month in April
Smelters in Yunnan, remained subject to production curbs due to the annual dry season.
SELL ALUMINIUM MAY @ 234 SL 237 TGT 231-229. MCX
COPPER
Observation
Copper trading range for the day is 863.7-894.5.
Copper gains as bullish long-term demand and tight supply heightened concerts of incoming shortages.
The latest data showed that China imported more ore inputs despite the sharp increase in prices, underpinning demand from manufacturers.
The low availability of material hampered margins for smelters in China, responsible for over half of global supply.
SELL COPPER MAY @ 886 SL 890 TGT 880-876. MCX
ZINC
Observation
Zinc trading range for the day is 257.8-270.
Zinc gains as expectations of strong demand growth and hopes for cuts to U.S. interest rates.
China’s imports and exports both rose in April, indicating a revival in domestic and foreign demand.
Data shows that social inventories of zinc ingots across seven major markets in China totalled 212,900 mt
