BUY ALUMINIUM MAR @ 340 SL 337 TGT 343-346. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 340 SL 337 TGT 343-346. MCX
Observations
Aluminium trading range for the day is 335-353.2.
Aluminium dropped as China aluminium production up 3.0 % to 7.53 mln metric tons in Jan – Feb.
Aluminium Bahrain said that it was shutting down 19% of its capacity to sustain business continuity.
Australia's South 32 said that it had placed its Mozal aluminium smelter in Mozambique on care and maintenance.
Copper
BUY COPPER MAR @ 1175 SL 1170 TGT 1185-1195. MCX
Observations
Copper trading range for the day is 1164.3-1192.9.
Copper fell as elevated oil prices fuelled inflation concerns, supporting the U.S. dollar.
Prices came under pressure due to high London Metal Exchange inventories.
Copper inventories in warehouses monitored by the SHFE rose 2.0 % from last Friday, the exchange said.
Zinc
BUY ZINC MAR @ 321 SL 318 TGT 324-326. MCX
Observations
Zinc trading range for the day is 320.3-324.9
Zinc dropped as surging oil prices due to the conflict in the Middle East fuelled fears about inflation and global growth prospects.
Stronger economic data from China helped support sentiment.
China's industrial output rose 6.3% year-on-year in January-February and fixed asset investment rose 1.8%.
