Buy Zinc Mar @ 274 SL 272 TGT 276-278. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 254 SL 252 TGT 2256-258. MCX
Observations
Aluminium trading range for the day is 250.8-264.2.
Aluminium prices 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 aluminium output falls 0.9% year on year in February – IAI
Copper
BUY COPPER MAR @ 895 SL 890 TGT 900-905. MCX
Observations
Copper trading range for the day is 888.5-912.7.
Copper dropped amid stronger dollar and China's refined copper production in January and February rose 3.7%.
The premium of the Comex contract over the LME one hit a record high of $1,346 per ton and was last at $1,290, or 13%.
The on-warrant copper stocks in the LME system fell to 117,775 tons, the lowest since June, after 8,200 tons of fresh cancellations.
Zinc
BUY ZINC MAR @ 274 SL 272 TGT 276-278. MCX
Observations
Zinc trading range for the day is 270.3-278.9.
Zinc steadied as inventories in SHFE warehouses dropped 6.9% from last Friday
China's January – February zinc output up 1.8%
China’s zinc smelters are more willing to increase production.
