Buy Copper Mar @ 908 SL 903 TGT 913-918. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 249 SL 247 TGT 251-253. MCX
Observations
Aluminium trading range for the day is 246.1-256.5.
Aluminium prices dropped amid the improved availability for raw materials.
Major alumina producers in Guinea, Australia, and China added new capacity to recover from series of disruptions last year.
Global aluminium output falls 0.9% year on year in February – IAI
Copper
BUY COPPER MAR @ 908 SL 903 TGT 913-918. MCX
Observations
Copper trading range for the day is 894.9-925.5.
Copper surged driven by concerns over US tariffs and new stimulus measures in China.
China’s GDP growth target was set at 5%, and the government is implementing stimulus measures to boost domestic consumption.
The premium of the Comex contract over the LME one hit a record high of $1,346 per ton and was last at $1,290, or 13%.
Zinc
BUY ZINC MAR @ 275 SL 273 TGT 277-279. MCX
Observations
Zinc trading range for the day is 273.5-278.5.
Zinc prices gained as supply concerns intensified and SHFE inventories dropped 6.9%
Nyrstar announced 25% production cuts at its Hobart zinc operations in Australia from April, sending prices higher.
China’s zinc production in January and February rose 1.8% from the prior year to around 1.13 million metric tons
