SELL COPPER MAR @ 755 SL 760 TGT 750-745. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 203.2-205.6.
* 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 @ 205 SL 207 TGT 203-201. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 729.6-766.6.
* Copper prices soared after Chinese smelters, agreed on a joint production cut.
* The rise started on SHFE, where copper reached a two-year high of 70,460 yuan ($9,796) per ton. Copper inventory in SHFE rose steeply to 239,245 tonnes from 30,905 tonnes in the beginning of the year.
SELL COPPER MAR @ 755 SL 760 TGT 750-745. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 222.4-226.2.
* Zinc gains as Seokpo smelter in South Korea has cut its output by a fifth.
* The considerate cut by the smelter could narrow the expected market's surplus of 300,000 ton
* Zinc was underpinned by hopes of higher demand since the latest remarks from Fed policymakers
SELL ZINC MAR @ 226 SL 229 TGT 223-221. MCX
