Sell Copper Mar @ 730 SL 734 TGT 726-722. MCX-Kedia Advisory
ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 200.5-203.1.
* Aluminium gains as domestic social inventories of aluminium ingots down by 24.6% YoY.
* SHFE aluminium inventories rose 10.2% from last Friday
* China's official PMI fell to 49.1 in February from 49.2 in January
SELL ALUMINIUM MAR @ 203 SL 205 TGT 201-200. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 722.4-736.
* Copper gains supported by the muted greenback, after latest data from US.
* Factory activity contracted for a fifth consecutive month in February
* SHFE Copper inventories rose 18.3% from last Friday
SELL COPPER MAR @ 730 SL 734 TGT 726-722. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 211.1-220.9.
* Zinc prices gained lifted by hopes of support measures from China.
* Caixin General Manufacturing PMI went up to 50.9 in the period, painting the mixed picture of the sector
* Global zinc market deficit expands in December – ILZSG
SELL ZINC MAR @ 218 SL 220 TGT 215-213. MCX
