Sell Zinc Apr @ 219 SL 221 TGT 216-214. MCX - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 208.2-210.4.
Aluminium gains over concerns over slow recovery in production in China's Yunnan.
There are expectations for an increase in production in May, but the drought situation in Yunnan may bring uncertainty.
China's aluminium output was 3.333 million mt in February, up 7.81% YoY.
SELL ALUMINIUM APR @ 211 SL 213 TGT 209-207. MCX
Copper
Observations
Copper trading range for the day is 758.7-772.1.
Copper rose amid stronger-than-expected economic data from China.
Both the official and Caixin PMIs in China pointed to an expansion in factory activity during March.
Prices also remained supported by the outlook of lower supply as Chinese copper smelters moved closer to a joint output cut amid lower ore supplies.
SELL COPPER APR @ 768 SL 772 TGT 763-760. MCX
Zinc
Observations
Zinc trading range for the day is 216.1-219.3.
Zinc gains as the output of China's smelters dropped significantly.
Domestic refined zinc production in March 2024 likely to decrease 8.78% year-on-year.
Global zinc market moved to a surplus of 58,700 metric tons in January - ILZSG
SELL ZINC APR @ 219 SL 221 TGT 216-214. MCX
