Sell Copper Mar @ 868 SL 872 TGT 863-858. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAR @ 259 SL 261 TGT 257-255. MCX
Observations
Aluminium trading range for the day is 255.5-261.7.
Aluminium gains as EU envoys' agreement to ban Russian primary aluminium imports in a fresh sanctions package.
The U.S. aluminium premium over the global benchmark on LME has shot up by a quarter since February 7 to 35 cents per pound.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 17.5%.
Copper
SELL COPPER MAR @ 868 SL 872 TGT 863-858. MCX
Observations
Copper trading range for the day is 857-872.
Copper settle flat as copper supply in China remains abundant, with stocks rising to over 260,000 tonnes.
US President Trump ordered an investigation into potential tariffs on copper imports aimed at revitalizing US production of the metal.
Copper market in 22,000 metric tons deficit in Dec 2024 – ICSG
Zinc
SELL ZINC MAR @ 269 SL 271 TGT 267-265. MCX
Observations
Zinc trading range for the day is 265.3-271.5.
Zinc pared all gains as dollar recovered as the deadline for President Trump’s latest tariffs draws closer.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 26.3 % from last Friday.
PBOC said in its fourth-quarter monetary policy implementation report that it would adjust policy at the appropriate time to support the economy.
