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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