Buy Zinc Mar @ 267 SL 265 TGT 269-271. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 257 SL 255 TGT 259-261. MCX
OBSERVATIONS
Aluminium trading range for the day is 257.1-259.5.
Aluminium fell as signals from the US that it aims to relax sanctions of Russia eased growing concerns of low supply.
Pressure also seen amid resumption of aluminium production in China.
China produced 44 million tons of aluminum in 2024, the most on record
Copper
BUY COPPER MAR @ 860 SL 855 TGT 865-870. MCX
OBSERVATIONS
Copper trading range for the day is 857.1-868.1.
Copper dropped due to ongoing uncertainty surrounding potential US tariffs on the metal.
Treatment charges for Chinese smelters remained negative, indicating significant overcapacity in refined copper production.
Copper stocks in China have surged toward the 270,000-tonne mark, three times the level seen at the start of the year.
Zinc
BUY ZINC MAR @ 267 SL 265 TGT 269-271. MCX
OBSERVATIONS
Zinc trading range for the day is 265.8-271.4.
Zinc dropped as U.S. President Donald Trump slapped tariffs on China, Canada and Mexico.
China's manufacturing activity returned to expansion in February.
Spotlight will be on China's National People's Congress meeting scheduled for March 5 to see if the country unveils more stimulus.
