Sell Zinc Mar@ 225 SL 228 TGT 222-220. MCX -Kedia Advisory
ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 201.3-204.7.
* Aluminium gains driven by the looming threat of Russian aluminum bans by the EU.
* China's 5% growth target for 2024 disappointed investors
* Global primary aluminum production grows in Jan y-o-y - IAI
SELL ALUMINIUM MAR @ 204.5 SL 206 TGT 202.5-201. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 727.7-741.7.
* Copper prices gains as traders assessed lower inventories and tight global supply.
* Supporting copper prices were mine-side disruptions that started last December
* LME copper stocks declined to the lowest levels since last August.
SELL COPPER MAR @ 738 SL 742 TGT 733-730. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 218.4-226.4.
* Zinc gains as Seokpo smelter in South Korea has cut its output by a fifth.
* Zinc inventories in warehouses monitored by the SHFE rose 11.3% from last Friday.
* Global zinc market deficit expands in December – ILZSG
SELL ZINC MAR @ 225 SL 228 TGT 222-220. MCX
