Buy ALUMINIUM JAN @ 202 SL 200 TGT 204-206. MCX - Kedia Advisory
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
