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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 196.5-199.1.

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 @ 199 SL 201 TGT 197-196. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 721-732.4.

Copper dropped remained under pressure from a firmer U.S. dollar.

Higher inventories in China also weighed

Deliverable copper stocks on SHFE after the Lunar New Year holiday scaled 181,323 tons, at a near one-year high.

SELL COPPER MAR @ 728 SL 732 TGT 724-721. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 212.4-216.6.

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