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ALUMINIUM

BUY ALUMINIUM FEB @ 311 SL 309 TGT 313-315. MCX

Observations

Aluminium trading range for the day is 302.3-317.7.

Aluminium gains as tightening global supply coincided with growing demand.

Goldman Sachs lifted its first-half outlook for the light metal to $3,150 a ton from $2,575.

Support also seen as investor optimism reflects early signs of economic stabilization after Beijing’s support for key sectors.

COPPER

BUY COPPER FEB @ 1235 SL 1225 TGT 1245-1255. MCX

Observations

Copper trading range for the day is 1200.9-1266.3.

Copper prices gained as China will expand its strategic copper reserves.

Copper stocks sitting in SHFE warehouses climbed for a ninth week, the longest rising streak since March 2024.

LME copper stocks rose to 183,275 tons, the highest since May 2025, following further deliveries into South Korea and New Orleans.

ZINC

BUY ZINC FEB @ 324 SL 321 TGT 327-329. MCX

Observations

Zinc trading range for the day is 314.4-332.2.

Zinc prices gained as investors saw supply concerns and demand prospects remain supportive for the metal.

As the Chinese New Year holiday approaches, a zinc mine in Southwest China suspended production in early February.

China turned net exporter of refined zinc in November and December after a vicious squeeze on the LME contract in October.