Sell Zinc Mar @ 276 SL 278 TGT 274-272. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 262 SL 260 TGT 264-266. MCX
Observations
Aluminium trading range for the day is 259.5-265.3.
Aluminium prices dropped amid the improved availability for raw materials.
Major alumina producers in Guinea, Australia, and China added new capacity to recover from series of disruptions last year.
Global aluminium output falls 0.9% year on year in February – IAI
Copper
SELL COPPER MAR @ 909 SL 913 TGT 904-900. MCX
Observations
Copper trading range for the day is 899.6-919.4.
Copper prices dropped after China's January – February refined copper output up 3.7%
Comex copper stocks are down 7.5% since mid-February to 93,154 tons.
The copper stocks in the LME-registered warehouses are at 223,275 metric tons, their lowest since mid-July.
Zinc
SELL ZINC MAR @ 276 SL 278 TGT 274-272. MCX
Observations
Zinc trading range for the day is 272.7-278.3.
Zinc dropped as China’s zinc smelters are more willing to increase production.
However downside seen limited after Nyrstar announced 25% production cuts
China's January – February zinc output up 1.8%
