Sell Zinc MAR @ 224 SL 227 TGT 220-218. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 203.2-206.2.
Aluminium gains on renewed evidence that economic support measures from China.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 12.0% from last Friday
Global primary aluminum production totaled 6.039 million tons in January, slightly falling by 0.05%
SELL ALUMINIUM MAR @ 206 SL 208 TGT 204-202. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 748.7-771.5.
Copper rose buoyed by a potential output cut in China.
Major Chinese copper smelters have reached an agreement to lower operation rates.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 19.7% from last Friday
SELL COPPER MAR @ 765 SL 770 TGT 760-756. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 219.4-226.8.
Zinc dropped after inventories in SHFE warehouses rose 10.0% from last Friday.
Glencore's Nordenham zinc smelter starts ramping up output.
Continuous inflow of imported zinc ingots may replenish part of the supply
SELL ZINC MAR @ 224 SL 227 TGT 220-218. MCX
