BUY ALUMINIUM DEC @ 276 SL 274 TGT 278-280. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM DEC @ 276 SL 274 TGT 278-280. MCX
OBSERVATIONS
Aluminium trading range for the day is 273-281.4.
Aluminium prices rebounded on hopes for more stimulus in top metals consumer China.
The percentage of available aluminium stocks of Russian origin in LME warehouses increased to 53% in November from 51% in October.
Inventories in warehouses monitored by the Shanghai Futures Exchange rose 7.25% from last Friday.
COPPER
BUY COPPER DEC @ 1082 SL 1076 TGT 1090-1096. MCX
OBSERVATIONS
Copper trading range for the day is 1074.2-1100.4.
Copper gains as investors braced for a possibly hawkish guidance from the Fed following its two-day policy meeting.
Chinese copper stocks on the LME increased to 130,225 tons at the end of last month from 100,400 tons in October.
China's consumer inflation accelerated to a 21-month peak in November, but factory-gate deflation persisted.
ZINC
BUY ZINC DEC @ 309 SL 307 TGT 311-313. MCX
OBSERVATIONS
Zinc trading range for the day is 307.3-314.1.
Zinc fell as LME stocks jumped, up 60% since early November, easing supply worries.
Global zinc market surplus declined to 20,300 metric tons in September from 32,700 tons in August.
A zinc mine in Central China is planning a routine maintenance shutdown in December, resulting in fewer production days.
