Buy Aluminium JAN @ 205 SL 203 TGT 207-209. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 203.3-207.5.
Aluminium dropped as China's December production hiking by 2.1%
Aluminium output in November decreased due to production cuts in Yunnan province
Global alumina production in November was 11.858 million tons, a 1.9% decrease from the previous month.
BUY ALUMINIUM JAN @ 205 SL 203 TGT 207-209. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 715.8-729.6.
Copper dropped due to revised expectations of the Fed’s interest rate cuts
Chile's total copper production fell 2.34% in November on an annual basis.
Copper inventories in Shanghai Futures Exchange warehouses rose 7.2%.
BUY COPPER JAN @ 718 SL 714 TGT 722-726. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 223.7-228.3.
Zinc dropped as inventories in SHFE warehouses rose 2.8% from last Friday.
Smelters in Sichuan increased production, while smelters in Gansu ended maintenance, leading to a growth in output.
China's refined zinc output in November 2023 was 579,000 mt, a decrease of 4.23% month on month
BUY ZINC JAN @ 224 SL 222 TGT 227-229. MCX
