Buy Aluminium Apr @ 250 SL 248 TGT 252-254. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM APR @ 250 SL 248 TGT 252-254. MCX
OBSERVATIONS
Aluminium trading range for the day is 246.9-257.1.
Aluminium dropped amid the improved availability for raw materials.
Major alumina producers in Guinea, Australia, and China added new capacity to recover from series of disruptions last year.
Global primary aluminium output in February fell 0.9% year on year to 5.645 million tonnes
COPPER
BUY COPPER APR @ 900 SL 896 TGT 904-908. MCX
OBSERVATIONS
Copper trading range for the day is 888.3-920.9
Copper prices eased after U.S. President Trump announced 25% tariffs on auto imports
LME continues to see copper prices trading at a record discount compared to futures contracts on New York’s Comex.
LME inventory data showed that copper stocks fell by 1,475 tons, or 0.68%, to 215,275 tons.
ZINC
BUY ZINC APR @ 272 SL 270 TGT 274-276. MCX
OBSERVATIONS
Zinc trading range for the day is 269.1-279.7
Zinc dropped as global zinc market deficit fell to 10,000 metric tons in January.
China’s zinc production in January and February rose 1.8% from the prior year to around 1.13 million metric tons.
Nyrstar announced 25% production cuts at its Hobart zinc operations in Australia from April.
