SELL ALUMINIUM MAR @ 351 SL 354 TGT 348-346. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAR @ 351 SL 354 TGT 348-346. MCX
Observations
Aluminium trading range for the day is 343.2-355.4.
Aluminium rallied on worries of tighter supply to Europe and as the Middle East conflict disrupts shipments.
The war in the Middle East has affected deliveries from aluminium producers that account for around 9% of global aluminium supply.
Easing some of the immediate worries, Norsk Hydro said its Qatalum aluminium smelter in Qatar was halting the curtailment.
Copper
SELL COPPER MAR @ 1208 SL 1218 TGT 1198-1188. MCX
Observations
Copper trading range for the day is 1191.6-1213.
Copper price settled down pressured by a stronger dollar as rising oil prices reignited inflation concerns.
Forward-looking inflationary risks dampened expectations for Fed rate cuts, with forecasts pointing to only one reduction later this year.
Workers at Glencore’s Australian copper refinery in Townsville, Queensland, have threatened to strike from Friday over a pay dispute
Zinc
SELL ZINC MAR @ 327 SL 330 TGT 324-322. MCX
Observations
Zinc trading range for the day is 322.7-328.3.
Zinc settled flat as dollar strengthened above 99.50 amid heightened uncertainty surrounding the US-Iran conflict
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 7.04% from last Friday, the exchange said.
China set its economic growth target for 2026 at 4.5%-5%, a slight downgrade from the 5% pace achieved last year.
