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 251.1-259.9.
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 @ 898 SL 893 TGT 904-908. MCX
Observations
Copper trading range for the day is 892.8-913.
Copper surged driven by concerns over US tariffs and new stimulus measures in China.
China’s GDP growth target was set at 5%, and the government is implementing stimulus measures to boost domestic consumption.
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%.
Zinc
BUY ZINC MAR @ 274 SL 272 TGT 276-278. MCX
Observations
Zinc trading range for the day is 272.5-278.9.
Zinc dropped on profit booking after prices gained as supply concerns intensified and SHFE inventories dropped 6.9%
Nyrstar announced 25% production cuts at its Hobart zinc operations in Australia from April, sending prices higher.
China’s zinc production in January and February rose 1.8% from the prior year to around 1.13 million metric tons
