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 205.9-208.9.
Aluminium gains amid concerns over slow recovery in production in China's Yunnan province.
Investors waited for signals that demand was recovering in top metals consumer China.
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 752-763.2.
Copper settled flat amid looming concerns over the resilience of the Chinese economy
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 214.5-218.3.
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
