23-01-2024 10:54 AM | Source: Kedia Advisory
Buy Aluminium Jan @ 196 SL 194 TGT 198-200. MCX - Kedia Advisory

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ALUMINIUM:

OBSERVATIONS:

Aluminium trading range for the day is 195.5-197.1.

Aluminium dropped as LME aluminium stocks have jumped by 25% since Dec. 14

China missed forecasts for economic growth while sales in the debt-heavy property sector continued to decline

China's imports of aluminium jumped 28% in 2023

BUY ALUMINIUM JAN @ 196 SL 194 TGT 198-200. MCX

 

COPPER:

OBSERVATIONS:

Copper trading range for the day is 712.1-717.7.

Copper dropped as SHFE inventories rose 10.8% from last Friday

China's refined copper production in December climbed 16.6% from the prior year to around 1.17 million metric tons

First Quantum's Cobre mine in Panama halts production

BUY COPPER JAN @ 712 SL 708 TGT 716-72. MCX

 

ZINC:

OBSERVATIONS:

Zinc trading range for the day is 217.7-220.7.

Zinc ended with losses on weak Chinese economic data.

Industrial output in China showed signs of improvement

The global zinc market deficit increased in November 2023.

BUY ZINC JAN @ 218 SL 216 TGT 221-223. MCX

 

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