Buy Zinc Mar @ 217 SL 215 TGT 220-222. MCX -Kedia Advisory
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ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 200.8-202.8.
* Aluminium dropped amid lack of policy support from China left traders disappointed.
* China's state planner said that the government's 5% economic growth target this year
* China's aluminium consumption to grow 1.7% in 2024.
BUY ALUMINIUM MAR @ 201 SL 199 TGT 203-204. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 722.9-736.9.
* Copper rose as a weaker dollar and declining exchange stockpiles provided support.
* Copper inventories in the LME-registered warehouses continued to slide and reached their fresh six-month low.
* China's exports growth likely slowed in the January-February period, suggesting manufacturers are still struggling
BUY COPPER MAR @ 728 SL 724 TGT 732-736. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 216.1-220.5.
* Zinc gains as mine supply remains the key constraint on zinc.
* Bank of America expects zinc prices to average $2,375 in 2024
* China's refined zinc output in January 2024 was 567,000 mt, a month-on-month decrease of 23,900 mt or 4.05%.
BUY ZINC MAR @ 217 SL 215 TGT 220-222. MCX
