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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 203.4-206.2.

Aluminium settled flat as upbeat data from China reignited hopes for a surge in demand.

China aluminium production up 5.5 % to 7.1 mln tonnes in Jan – Feb

Industrial activity surged by 7% year-on-year in January-February 2024, exceeding market expectations of 5%

SELL ALUMINIUM MAR @ 206 SL 208 TGT 204-202. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 755.5-773.9.

Copper gains as buoyant Chinese economic data fostered hopes for a recovery in demand.

Chinese copper smelters agreed to reduce production at facilities that were unprofitable due to shortages of raw materials

China's industrial output soared by 7% annually throughout January and February.

SELL COPPER MAR @ 768 SL 772 TGT 764-760. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 218.3-225.3.

Zinc dropped as Glencore's Nordenham zinc smelter starts ramping up output

China’s real estate remained a worry as property investment in the same period fell 9%

In February 2024, China's refined zinc output was 502,500 mt, a month-on-month decrease of 64,400 mt or 11.36%.

SELL ZINC MAR @ 222 SL 225 TGT 219-217. MCX