Buy Aluminium MAR @ 328 SL 325 TGT 331-332. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 328 SL 325 TGT 331-332. MCX
Observations
Aluminium trading range for the day is 311.3-353.3.
Aluminium plunged as Emirates Global Aluminium (EGA) secured alternative export routes to the Strait of Hormuz.
China's imports of unwrought aluminium and aluminium products fell 10% year-on-year in February.
Copper
BUY COPPER MAR @ 1105 SL 1095 TGT 1115-1125. MCX
Observations
Copper trading range for the day is 999.3-1211.7.
Copper slid as oil prices spiked stoking inflation fears and reinforcing a hawkish U.S. central bank outlook.
Copper also came under pressure from mounting stock levels.
Copper stocks in LME warehouses continued to rise after hitting the highest since 2019, totalling 334,100 tons.
Zinc
BUY ZINC MAR @ 305 SL 302 TGT 308-310. MCX
Observations
Zinc trading range for the day is 296.3-317.5.
Zinc dropped amid growing worries about the global economic impact of the war in Iran.
Zinc ingot inventory in China continued to build up to a high level in recent years.
Rising inventories at the Shanghai Futures Exchange and in LME warehouses, along with a strong US dollar, weighed on market.
