Sell Zinc Mar @ 222 SL 225 TGT 219-217. MCX - Kedia Advisory
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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
