Gold Silver Reports — Industrial metals including copper and aluminum are heading for the longest run of weekly gains in London in more than a decade on investor optimism driven by China, with demand holding up in the largest user just as policy makers press on with reforms that should curb supply.
Gold Silver Reports — Technically Aluminium market is getting support key at 122.80 and below same could see a test of 121 key level, And resistance key is now likely to be seen at 126, a move above could see prices testing 127.
Gold Silver Reports — Zinc prices are holding steady, continuing to do better than other non-ferrous metals such as copper and aluminium. Sharp tightening in supply appears to be the main reason.
Gold Silver Reports — Copper may move in the range of 308-316. Lead can hover in the range of 113.50-115 while zinc can move in the range of 125 -129. Nickel may move in the range of 555-580 in MCX. Aluminum can move in the range of 103-106 in MCX.
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MCX Aluminium Low 105
Copper Aluminium MCX Tips Trade With 100-500
Copper MCX @ 316 and Aluminium CMP@ 101.80
Gold Silver Reports ~ Aluminium on MCX settled up 0.75% at 107.4 driven by expectations for demand recovery in Chinese aluminum market.
Gold Silver Reports – Metal sector bleeding from rising production cost, weak demand and cheap import from China are upset at the Budget as the plea from Aluminum Industries to increase import tariff to double from 5% to 10% to support the local players have gone unheard.