Sell Zinc MAR @ 225 SL 228 TGT 222-220. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202.3-205.7.
Aluminium prices dropped amid robust supplies from China.
There are demand concerns on growing inventory in China.
Aluminium inventory has grown 85% so far this year to 184,358 metric tons in SHFE warehouses.
SELL ALUMINIUM MAR @ 205 SL 207 TGT 203-201. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 745.8-758.
Copper pared gains on profit booking after prices rose as Chinese smelters agreed to cut output
Further pressure seen weighed down by a recent surge in SHFE inventories to 239,245 tonnes by March 8.
China produced 13 million tons of refined copper last year, or 47% of the global output.
SELL COPPER MAR @ 755 SL 760 TGT 750-745. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 220.1-227.5.
Zinc dropped as continuous inflow of imported zinc ingots may replenish part of supply.
The downward pressure was exerted by uncertain economic recovery of leading consumer China.
Seokpo smelter in South Korea has cut its output by a fifth.
SELL ZINC MAR @ 225 SL 228 TGT 222-220. MCX
