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27-03-2024 10:37 AM | Source: Kedia Advisory
Sell Zinc Apr @ 219 SL 221 TGT 217-215. MCX - Kedia Advisory

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Aluminium

Observations

Aluminium trading range for the day is 204.5-210.7.

Aluminium dropped as investors waited for signals that demand was recovering in China.

However, downside seen limited amid concerns over slow recovery in production in China's Yunnan province.

Montefusco cited market concerns about the pace of aluminium smelters in draught-hit Yunnan province restoring 500,000 metric tons of annual production

SELL ALUMINIUM APR @ 208 SL 210 TGT 206-204. MCX

 

Copper

Observations

Copper trading range for the day is 753.3-763.5.

Copper dropped due to expectations of China’s easier monetary policy.

Prices pressured by rising LME inventories, which were last at 117,900 tons, the highest since Feb. 29.

The discount of LME cash copper to the three-month contract expanded to $115.37 a ton, the biggest discount since at least 1982.

SELL COPPER APR @ 760 SL 765 TGT 755-750. MCX

 

Zinc

Observations

Zinc trading range for the day is 215.1-221.7.

Zinc dropped as global zinc market moved to a surplus of 58,700 metric tons in January.

Glencore Plc has halted operations at its McArthur River zinc mine in Australia following heavy rainfall

Exchange stocks of zinc in Shanghai crept a little higher in the week to 121,873 tons

SELL ZINC APR @ 219 SL 221 TGT 217-215. MCX

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