Buy Copper Mar @ 902 SL 897 TGT 908-914. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 262 SL 260 TGT 264-266. MCX
Observations
Aluminium trading range for the day is 261.7-265.9.
Aluminium dropped as China January – February aluminium output rises 2.6% to 7.32 million tons
China's January aluminium imports fall 24.3% y/y to 290,000 tons
OECD's downgrade of global growth forecasts, intensifying market pressure.
Copper
BUY COPPER MAR @ 902 SL 897 TGT 908-914. MCX
Observations
Copper trading range for the day is 900.1-910.9.
Copper prices recovered from losses amid China's stimulus plan.
Investors grappled with the potential economic impact of growing global trade tensions.
Copper stocks in China rose toward 270,000 tonne mark, thrice the level from the start of the year.
Zinc
BUY ZINC MAR @ 275 SL 272 TGT 278-280. MCX
Observations
Zinc trading range for the day is 274-280.
Zinc dropped on profit booking after prices rose on Nyrstar cutting production in Australia.
LME on-warrant stocks fell to 94,700 tons, their lowest since November 2023.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.9% from last Friday.
