Choice Commodity Research

Aluminium Update Aluminium smelters are restarting idle capacity to benefit from price gains driven by Middle East tensions. Alcoa resumed operations in Portland, while Rio Tinto is considering restarting capacity at Boyne. Impact: Negative for aluminium. -Choice Broking

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in SILVERMIC|30JUN26

Dollar Index Hits 9-week Low -Choice Broking

Sumeet Bagadia’s Desk : Book Part Profit @ 258181...Buy in Commodity SILVERMIC|30JUN26 @ 257026 SL 255650 TGT 259778.00

Sumeet Bagadia’s Desk:Buy NATURALGAS|22MAY26 PE 250.00 in Commodity @ 8 SL 6.7 TGT 10.60

Guargum prices hover near 11,456, up ~2% weekly, supported by lower arrivals and steady exports. Guar gum arrivals in 2025–26 remain below 2024–25 and the long-term average, especially during peak months, signaling tighter supply. India’s guar gum exports stood at 30,009 MT in April–March 2025–26, down 44.65% M/M but up 30.56% YoY due to Middle East tensions export dropped, but hopes of de-escalation in the war could support demand. Additionally, IMD’s forecast of below-average rainfall for the upcoming kharif season support prices.

Sumeet Bagadia’s Desk:Buy SILVERMIC|30JUN26 in Commodity @ 257026 SL 255650 TGT 259778.00

Crude Oil Update Crude oil futures fell over 6% as Donald Trump signaled progress toward a US-Iran deal and paused Project Freedom. Despite easing tensions, stranded ships and disrupted trade may delay recovery, while high energy costs weigh on global demand. -Choice Broking

Geopolitical Update US-Iran deal would involve both sides lifting restrictions around transit through the Strait of Hormuz. -Choice Broking.

The U.S. expects Iranian responses on several key points in the next 48 hours -Choice Broking.

Zinc Update Zinc futures rose as tightening supply, falling London Metal Exchange inventories, and lower treatment charges signaled constraints. China demand improved sentiment, while mine restarts may ease supply, though Middle East tensions continue to weigh on outlook. -Choice Broking.

Sumeet Bagadia’s Desk : Target Achieved @ 9346...Sell in Commodity CRUDEOILM|18MAY26 @ 9549 SL 9650 TGT 9347.00

Sumeet Bagadia’s Desk : Book Part Profit @ 9476...Sell in Commodity CRUDEOILM|18MAY26 @ 9549 SL 9650 TGT 9347.00

Zinc Update Kazakhstan’s largest zinc production facility owned by Glencore hit explosion. Impact: Positive for Zinc. -Choice Broking.

Aluminium Update LME aluminium stocks fell to 364,752 tonnes, with live warrants slightly lower and cancelled warrants dropping sharply by 15.67%, indicating tightening inventory conditions in the market. Impact: Positive for Aluminium -Choice Broking.

Natural Gas Update Global LNG exports fell to a two-year low in April 2026 due to Middle East disruptions, reduced tanker movement, and halted production in Qatar, impacting supply. -Choice Broking.

Global Update China urged the US to drop Section 301 probes on excess capacity, calling them flawed, ahead of a Donald Trump–Xi Jinping summit after US Trade Representative (USTR) launched investigations. Impact: Negative for base metals. -Choice Broking.

India S&P Global Services PMI (Apr) Actual: 58.8 Expected: 57.9 Previous: 57.5 Impact: Positive for rupee.

Baltic Dry Index at 5-Month High The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, climbed about 3.7% to the highest since early December 2025 at 2,832 points buoyed by the larger vessel segments. Impact: Positive for agri. -Choice Broking.