BUY ALUMINIUM MAR @ 329 SL 327 TGT 332-334. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 329 SL 327 TGT 332-334. MCX
Observations
Aluminium trading range for the day is 324.8-339.2.
Aluminium gains as force majeures from Mideast smelters Qatalum and Aluminium Bahrain heightened supply fears.
LME aluminium inventories fell to 459,125 tons, the lowest since July last year, after 2,000 tons of outflows from Port Klang.
Citi have raised their LME aluminium price target to $3,600 from $3,400 and said prices could climb to $4,000 in a bull-case scenario.
Copper
BUY COPPER MAR @ 1188 SL 1178 TGT 1198-1208. MCX
Observations
Copper trading range for the day is 1180.3-1216.9.
Copper prices dropped as LME copper stocks in US jump 44% as higher prices attract metal
Total LME copper stocks around the world have risen to 282,200 tons, the most since October 2024
In China, the government set a softer economic growth target of 4.5%–5% as policymakers grapple with persistent deflationary pressures.
Zinc
BUY ZINC MAR @ 320 SL 317 TGT 323-326. MCX
Observations
Zinc trading range for the day is 314.1-334.3.
Zinc fell as the dollar strengthened amid heightened uncertainty surrounding the US-Iran conflict.
China set its economic growth target for 2026 at 4.5%-5%, a slight downgrade from the 5% pace achieved last year.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 44.8%.
