SELL ALUMINIUM MAR @ 337 SL 340 TGT 334-332. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAR @ 337 SL 340 TGT 334-332. MCX
Observations
Aluminium trading range for the day is 324.7-356.5
Aluminium dropped on profit booking after prices rallied as escalating Middle East hostilities disrupted supply.
London metals exchange aluminum spread trades are seeing the largest backwardation since 2022, indicating market tightness.
London metals exchange aluminum spread trades are seeing the largest backwardation since 2022, indicating market tightness.
Copper
SELL COPPER MAR @ 1200 SL 1210 TGT 1190-1180. MCX
Observations
Copper trading range for the day is 1173.2-1209.4.
Copper prices came under pressure due to high London Metal Exchange inventories
Chile, exported $4.7 billion of the copper in February, up 16.3% from the same month a year earlier.
Citi said it turns bullish on copper in the near term and expects prices to rise to $14,000 a ton within the next three months.
Zinc
SELL ZINC MAR @ 327 SL 330 TGT 324-322. MCX
Observations
Zinc trading range for the day is 321-329.4.
Zinc gains as low inventories and mine closures, delays underpinned prices.
China's central bank vows flexible, efficient cuts in reserve ratio, rates in 2026
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 7.04% from last Friday, the exchange said.
