Aluminium trading range for the day is 202-212.4 - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 202-212.4.
Aluminium rose due to supply concerns after a fuel depot blast in major raw material producer Guinea.
The blast at an oil terminal in major bauxite supplier Guinea sparked fears of a shortage of the feed material for alumina.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 8.8% from last Friday.
SELL ALUMINIUM JAN @ 210 SL 212 TGT 208-206. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 729.1-737.9.
Copper settled flat after support seen helped by expectations of Chinese economic policy support
Copper market in 53,000 metric tons deficit in Oct 2023 – ICSG
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 16.5% from last Friday.
SELL COPPER DEC @ 734 SL 738 TGT 730-726. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 224.7-231.5.
Zinc prices gained as China's refined zinc output dropped 4.23% month on month in November.
The global zinc market deficit eased to 52,500 metric tons in October from a deficit of 62,000 tons in September
China, registered accelerating growth in its industrial output for November
SELL ZINC JAN @ 230 SL 233 TGT 227-225. MCX
