SELL ALUMINIUM MAR @ 333 SL 336 TGT 330-328. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAR @ 333 SL 336 TGT 330-328. MCX
Observations
Aluminium trading range for the day is 323.1-337.3.
Aluminium dropped as Alvance boosts aluminium output by 10% at UK'S only primary plant.
China Jan-Feb alumina output up 0.2% y/y at 15.18 mln metric tons - stats bureau
Global primary aluminium output in February rose 0.9% year on year to 5.685 million tonnes – IAI
Copper
SELL COPPER MAR @ 1130 SL 1140 TGT 1120-1110. MCX
Observations
Copper trading range for the day is 1038.3-1171.9.
Copper prices jumped after U.S. President Donald Trump said he will order the U.S. military to postpone any military strikes.
Also supporting sentiment were signs that demand might be recovering in top consumer China.
China Jan-Feb refined copper output up 9% y/y at 2.47 mln metric tons - stats bureau
Zinc
SELL ZINC MAR @ 312 SL 315 TGT 309-307. MCX
Observations
Zinc trading range for the day is 296.3-325.1.
Zinc gained as dollar dropped below 99 after President Trump postpone all planned strikes on Iranian energy infrastructure.
Support also seen amid a low inventories and mine closures, delays underpinned prices.
China Jan-Feb zinc output 5.4% y/y at 1.198 mln metric tons - stats bureau
