Aluminium
Best Run in 11 Years Beckons for Metals as China Drives Rally
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.
Copper-Nickel-Aluminium-Zinc Under Short Covering
Gold Silver Reports — Copper MCX is getting support Key 380 and below same could see a test of 377 level, And resistance Key is now likely to be seen at 386, a move above could see prices testing 389.
MCX Aluminium Trading Key Zone 120-127
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.
MCX Aluminium Buying, Support Zone at 122
Gold Silver Reports — Technically Aluminium market is under fresh buying as market has witnessed gain in open interest by 3.83% to settled at 1817 while prices up 1.05 rupees.
Balanced market keeps prices steady: Zinc
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.
Copper MCX May Trading Levels of 308-316
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.
Aluminium Price Up on Short Covering
Gold Silver Reports ~ Aluminium on MCX settled up 0.75% at 107.4 driven by expectations for demand recovery in Chinese aluminum market.