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