Buy Aluminium Jan @ 251 SL 249 TGT 254-256. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 250.2-255.4.
Aluminium dropped as global primary aluminium output in December rose 3% YoY
Aluminium stocks at three major Japanese ports rose by 13.2% by December end, from the previous month.
The EU was set to sanction the import of primary aluminum from Russia in its upcoming package.
BUY ALUMINIUM JAN @ 251 SL 249 TGT 254-256. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 823.6-837.6.
Copper edges higher amid trade tensions and supply concerns
The global refined copper market showed a 131,000 metric tons deficit in November, compared with a 30,000 metric tons deficit in October.
China's foreign ministry said Beijing was willing to maintain communication with the U.S. to "properly handle differences and expand mutually beneficial cooperation".
BUY COPPER JAN @ 828 SL 824 TGT 834-838. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 268-274.8.
Zinc dropped as global zinc market deficit narrows in November fell to 52,900 metric tons.
Trump mulls 25% duties on imports from Canada, Mexico on Feb. 1
Trump wants to reverse the U.S. trade deficit with the EU
BUY ZINC JAN @ 269 SL 267 TGT 272-274. MCX
