Buy Zinc Apr @ 215 SL 213 TGT 218-220. MCX - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 206.5-210.1.
Aluminium gains over concerns over slow recovery in production in China's Yunnan.
There are expectations for an increase in production in May, but the drought situation in Yunnan may bring uncertainty.
China's aluminium output was 3.333 million mt in February, up 7.81% YoY.
BUY ALUMINIUM APR @ 208 SL 207 TGT 209-210. MCX
Copper
Observations
Copper trading range for the day is 755.2-767.
Copper gains as China's top copper smelters proposal of a 5-10% production cut.
Chinese manufacturing activity is likely to have contracted for a sixth straight month in March.
Copper output in Chile, grew 9.95% year-on-year in February to 420,242 metric tons.
BUY COPPER APR @ 757 SL 754 TGT 762-767. MCX
Zinc
Observations
Zinc trading range for the day is 215.1-218.7.
Zinc gains as the output of China's smelters dropped significantly.
Domestic refined zinc production in March 2024 likely to decrease 8.78% year-on-year.
Global zinc market moved to a surplus of 58,700 metric tons in January - ILZSG
BUY ZINC APR @ 215 SL 213 TGT 218-220. MCX
