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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 196.9-199.3.

Aluminium dropped as an aluminium smelter in Inner Mongolia is now resuming production

Markets continued to assess the impact of stimulus and looser monetary policy in China on demand

Aluminium downstream enterprises are steadily resuming production, with short-term operating rates recovering

BUY ALUMINIUM MAR @ 197 SL 195 TGT 199-201. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 721.8-728.8.

Copper fell amid stronger dollar and bad news from China's property sector.

Chinese demand has not made much of a recovery since the Lunar New Year holiday.

SHFE inventories than doubled in a little more than two weeks to 181,323 tons.

BUY COPPER MAR @ 724 SL 720 TGT 728-730. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 209.9-215.9.

Zinc dropped due to Fed's hawkish speech and the lower-than-expected increase in consumption.

Inventories in Shanghai Futures Exchange warehouses rose by 163.80%

China's refined zinc output in January 2024 decreased month-on-month by 4.05%

BUY ZINC MAR @ 212 SL 210 TGT 215-217. MCX