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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 201.7-205.3.

Aluminium settled flat amid expectations of ample supplies.

Discounts for cash against three-month LME contracts remain wide, indicates ample supply.

Chinese government stimulus expected to support manufacturing, boosting demand for goods.

BUY ALUMINIUM JAN @ 202 SL 200 TGT 204-206. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 706.5-727.5.

Copper dropped as LME copper cash to three month discount hits highest since 1992.

LME stocks were at 161,725 metric tons are up nearly 200% since July last year.

Chile, saw exports of copper reach $4.16 billion in December, down 8.14% from a year earlier.

BUY COPPER JAN @ 712 SL 708 TGT 716-720. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 221.4-226.2.

Zinc dropped as China's refined zinc production increased by 2.05% in December.

Domestic refined zinc production is expected to drop in January 2024.

U.S. non-manufacturing PMI and service industry employment sub-indicator fell in December.

BUY ZINC JAN @ 222 SL 220 TGT 225-227. MCX