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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 197.2-202.4.

Aluminium rises due to short covering after Inner Mongolia smelter restarts.

Markets continued to assess the impact of stimulus and looser monetary policy in China on demand

Aluminium downstream enterprises are steadily resuming production, with short-term operating rates recovering

SELL ALUMINIUM MAR @ 201 SL 203 TGT 199-197. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 724.2-730.8.

Copper gains as markets continued to assess the impact of China’s stimulus.

Chile's copper output grew 0.5% year-on-year in January to 435,633 metric tons.

The global refined copper market showed a 20,000 metric tons surplus in December

SELL COPPER MAR @ 728 SL 732 TGT 724-720. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 212.4-216.6.

Zinc gains as Global zinc market deficit increased to 62,600 metric tons in December 2023.

China's refined zinc output in January 2024 was 567,000 mt, a month-on-month decrease of 23,900 mt.

Average daily new home sales in China plummeted by 34% from a year earlier in January

SELL ZINC MAR @ 216 SL 218 TGT 214-212. MCX