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Buy ALUMINIUM JAN @ 205 SL 203 TGT 207-209. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 204.2-208.
Aluminium fell due to production resumptions and expanded delivery warehouses capacity
The outlook of bauxite supply from Guinea is being assessed by the market
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 717.6-734.2.
Copper dropped amid concerns over China's economy and capital outflows.
Sentiment towards China's economic recovery remains weak.
The Yangshan copper premium, an indicator of import demand, has fallen significantly.
BUY COPPER JAN @ 724 SL 720 TGT 728-732. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 222.8-229.8.
Zinc dropped due to a stronger dollar and uncertainty about US interest rate cuts.
China General Service PMI increased to 52.9 in December 2023 from 51.5 in November
China General Composite PMI rose to 52.6 in December 2023 from 51.6 in the prior month
BUY ZINC JAN @ 224 SL 222 TGT 227-229. MCX
