Buy Copper Mar @ 730 SL 726 TGT 734-738. MCX - Kedia Advisory
ALUMINIUM
observation
Aluminium trading range for the day is 195.8-202.8.
Aluminium dropped as China's aluminium output in January up by 4.2% YoY.
In January, domestic aluminium smelters maintained steady operations
PBoC slashed its 5-year loan prime rate, the reference for mortgages, by 25bps to 3.95% at the February fixing
BUY ALUMINIUM MAR @ 198 SL 196 TGT 200-202. MCX
COPPER
Observation
Copper trading range for the day is 728.6-736.4.
Copper gains on hopes that economic support in China will spur industrial demand.
World refined copper output in December was 2.39 million metric tons, while consumption was 2.37 million metric tons.
China will spur industrial activity and demand for input materials.
BUY COPPER MAR @ 730 SL 726 TGT 734-738. MCX
ZINC
Observation
Zinc trading range for the day is 211.2-215.4.
Zinc dropped as zinc inventories have rebounded recently
The global zinc market deficit increased to 62,600 metric tons in December 2023 from a deficit of 53,500 tons in November
China's refined zinc output in January 2024 was 567,000 mt, a month-on-month decrease of 4.05%
BUY ZINC MAR @ 212 SL 210 TGT 214-216. MCX
