Sell Copper Mar @ 728 SL 733 TGT 723-720. MCX -Kedia Advisory
ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 200.8-202.8.
* Aluminium dropped as smelter in Inner Mongolia has resumed production
* Aluminum smelters maintained stable production, and supply disturbances in China and overseas have basically eased
* Aluminum ingot inventories may move between 800,000-900,000 mt in the first half of March
SELL ALUMINIUM MAR @ 203 SL 205 TGT 201-200. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 722.3-732.9.
* Copper under pressure as lack of Chinese stimulus disappoints
* China's 5% growth target for 2024 missed investor expectations
* The global refined copper market showed a 20,000 metric tons surplus in December
SELL COPPER MAR @ 728 SL 733 TGT 723-720. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 214.9-219.5.
* Zinc gains as China's refined zinc output in January fell 4.05% month-on-month.
* The output of domestic smelters declined, mainly due to maintenance of smelters
* Global zinc market deficit increased to 62,600 metric tons in December 2023.
SELL ZINC MAR @ 218 SL 220 TGT 215-213. MCX
