Aluminium trading range for the day is 203.3-206.9- Kedia Advisory
ALUMINIUM:
OBSERVATIONS:
Aluminium trading range for the day is 203.3-206.9.
Aluminium dropped on profit booking after prices rose after real estate "white list" and purchasing restrictions ease
China's imports of unwrought aluminium more than doubled year-on-year in 2023
China factory activity shrinks for 4th month: NBS
SELL ALUMINIUM FEB @ 205 SL 207 TGT 203-201. MCX
COPPER:
OBSERVATIONS:
Copper trading range for the day is 729-739.6.
Copper dropped as data showed contraction in manufacturing activity in China.
Chinese copper smelters propose output cuts on concentrate tightness
CNIA said it had advised copper smelters to cut production and postpone new projects amid tightening raw material supplies.
SELL COPPER FEB @ 734 SL 738 TGT 730-727. MCX
ZINC:
OBSERVATIONS:
Zinc trading range for the day is 222.8-229.
Zinc dropped as China’s manufacturing activity in China contracted.
Global zinc supplies estimated at around 14 million tons
Lack of concern about zinc supplies can be seen in the discount for cash over three-month zinc contracts.
SELL ZINC FEB @ 227 SL 229 TGT 224.5-223. MCX
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