Sell Zinc MAY @ 273 SL 276 TGT 270-268. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 234.8-244.
Aluminium prices dropped as China's April aluminium imports jump 72.1% YOY
Aluminium stocks on the SHFE stood at 231,765 tons, up 139.8% from the beginning of this year and near a one-year peak.
Global aluminium output rises 3.3% year on year in April – IAI
SELL ALUMINIUM MAY @ 241 SL 244 TGT 238-236. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 868.6-913.
Copper prices fell as profit-taking continued
Copper market in 125,000 metric tons surplus in Mar 2024 – ICSG
Copper inventory remained at a four-year high in China, as demand waned after prices surpassed $10,000 a ton.
SELL COPPER MAY @ 893 SL 898 TGT 888-885. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 264.6-277.8.
Zinc settled flat amid poor demand in the near term weighed
Global zinc market surplus falls in March, ILZSG says
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%.
SELL ZINC MAY @ 273 SL 276 TGT 270-268. MCX
