Aluminium Alloy Ingots (ADC 12) in Bhavnagar

The aluminum industry is currently experiencing stagnancy in production and price movements. However, the outlook appears promising, with expected improvements in downstream consumption and macroeconomic conditions. Despite recent fluctuations, the market shows signs of stability and potential growth in the near future.

Zinc prices went up across LME, SHFE, and MCX, driven by global supply constraints and China's economic stimulus measures. LME zinc increased by 2.19%, SHFE by 2.14%, and MCX by 2.28%. Positive macro sentiment, especially US inflation data, also contributed to the bullish momentum, with expectations of high-level fluctuations.

Zinc prices have declined across LME, SHFE, and MCX markets due to economic concerns and reduced demand. Supply deficits are anticipated in 2024, driven by lower production in Europe and China, while market sentiment remains cautious following the US Fed meeting.

Zinc prices dropped across the LME, SHFE, and MCX markets, with LME closing at $3,076.5/ton, down by 3.25%. Supply concerns persist globally as the market faces a deficit of 164,000 tons in 2024. While increased output in Australia and Congo may offset some losses, challenges like heavy rains and power rationing in China have hindered refined zinc production.

Zinc prices experienced slight declines across major markets last Friday, with LME closing at $3,075/ton, SHFE at 24,985 yuan/ton, and MCX at Rs 280.90/kg. Trading volumes decreased, but open interest rose in both LME and SHFE. Despite that, experts predict a bullish trend for MCX Zinc today.

LME Zinc surged by 3.53% yesterday, while SHFE Zinc gained 1.27%, and MCX Zinc increased 3.08%. China's stimulus measures and favourable U.S. data continue to support zinc prices. Further, supply constraints and strong demand point to continued bullish momentum in the zinc market.

Aluminum markets saw a notable increase yesterday as LME, SHFE and MCX increased. Meanwhile, China's aluminum extrusion exports rose 9.85% MoM, with India being the top destination. Looking ahead, the aluminum market remains positive, supported by macroeconomic policies and rising demand.

Zinc prices experienced slight declines across LME, SHFE, and MCX markets. LME zinc dropped by $22/ton to $2,988.5/ton, SHFE fell by 55 yuan/ton to 24,410 yuan/ton, and MCX dropped Rs 0.95 to Rs 274.05/kg. Supply remains tight, with LME inventory down by 1,725 tons.

Zinc prices saw a modest increase, with LME closing 0.63% up and SHFE closing 0.55% up. MCX zinc ended at Rs 266.65/kg, up 0.43%. Trading volumes decreased on both LME and SHFE, while LME zinc recorded a bullish candlestick pattern. Market sentiment is influenced by weak US manufacturing data.