Sell Copper Mar @ 738 SL 742 TGT 733-730. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 202-205.6.
* Aluminium gains as the market factored in seasonally stronger demand
* But gains seen capped by robust supplies from top producer China.
* Aluminium inventory has grown 85% so far this year to 184,358 metric tons in ShFe warehouses.
SELL ALUMINIUM MAR @ 204.5 SL 206 TGT 202.5-201. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 730-742.2.
* Copper prices dropped pressured by subdued economic growth outlook
* Pressure also seen amid poor manufacturing data and the lack of a big stimulus support from China.
* Production by copper giant Codelco in Chile, in January sank near 16% year-on-year
SELL COPPER MAR @ 738 SL 742 TGT 733-730. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 219.1-227.3.
* Zinc dropped amid continuous inflow of imported zinc ingots
* Seokpo smelter in South Korea has cut its output by a fifth.
* The downward pressure was exerted by uncertain economic recovery of leading consumer China.
SELL ZINC MAR @ 225 SL 228 TGT 222-220. MCX
