IGI Logo

ALUMINIUM

Observation

Aluminium trading range for the day is 237-245.6.

Aluminum rose after China announced fresh support for its ailing property sector.

On-warrant LME stocks in Malaysian Port Klang continued to soar, extending concerns of uncertain supply

China's primary aluminium production in April rose 7.2% from a year earlier, official data showed

SELL ALUMINIUM MAY @ 244 SL 247 TGT 241-238. MCX

COPPER

Observation

Copper trading range for the day is 914.1-948.7.

Copper rallied as bets of higher demand in China magnified concerns of supply deficits.

Low copper availability hampered output forecasts for smelters in China, responsible for over half of global supply

Chile's Cochilco raises 2024, 2025 copper price estimates

SELL COPPER MAY @ 940 SL 945 TGT 935-930. MCX

ZINC

Observation

Zinc trading range for the day is 264.2-280.8.

Zinc gains amid China’s recent stimulus measures for clues on future construction demand.

China's industrial production expanded by 6.7% year-on-year in April 2024, faster than a 4.5% growth in the previous month.

China's retail sales rose by 2.3% year-on-year in April 2024

SELL ZINC MAY @ 277 SL 280 TGT 273-270. MCX