Buy Zinc Apr @ 276 SL 274 TGT 278-280. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM APR @ 252 SL 250 TGT 254-256. MCX
Observations
Aluminium trading range for the day is 252-254.8.
Aluminium 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 primary aluminium output in February fell 0.9% year on year to 5.645 million tonnes
Copper
BUY COPPER APR @ 908 SL 903 TGT 913-918. MCX
Observations
Copper trading range for the day is 900.5-926.9.
Copper dropped as concerns over looming U.S. tariffs weighed on sentiment.
Goldman forecasts three-, six-, and twelve-month LME copper prices at $9,600, $10,000 and $10,700 respectively.
Glencore has declared force majeure on copper shipments from its Chilean Altonorte smelter.
Zinc
BUY ZINC APR @ 276 SL 274 TGT 278-280. MCX
Observations
Zinc trading range for the day is 275.1-280.1.
Zinc dropped as global zinc market deficit fell to 10,000 metric tons in January.
China’s zinc production in January and February rose 1.8% from the prior year to around 1.13 million metric tons.
Nyrstar announced 25% production cuts at its Hobart zinc operations in Australia from April.
