Sell Zinc Mar @ 216 SL 218 TGT 213-211. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 197.1-200.1.
Aluminium gains as Guinea may hold a nationwide strike, may affect the supply of bauxite in Guinea
The United States did not impose sanctions on Russian metal
Aluminium stocks in SHFE warehouses jumped 65.6% last week to the highest since last May at 173,482 tons.
SELL ALUMINIUM MAR @ 200 SL 202 TGT 198-196. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 723.1-730.5.
Copper rose on China’s hopes parliamentary meeting could provide clues on economic stimulus.
Copper inventories rose in China, hurting prices, as January production rose past estimates.
Copper inventories at SHFE rose to 181,323 tonnes following the Chinese new year holiday, hitting a year high.
SELL COPPER MAR @ 728 SL 732 TGT 724-721. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 213.5-217.1.
Zinc gains as global market deficit increased to 62,600 metric tons in Dec 2023
Inventories in Shanghai Futures Exchange warehouses rose by 163.80%
China's refined zinc output in January 2024 decreased month-on-month by 4.05%
SELL ZINC MAR @ 216 SL 218 TGT 213-211. MCX
