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Aluminium

BUY ALUMINIUM JAN @ 298 SL 296 TGT 300-302. MCX

Observations

Aluminium trading range for the day is 286.5-305.7.

Aluminium rose as LME prices rose near the highest in over three years amid growing concerns of low supply.

Aluminium production is under threat from higher energy costs and supply limits in China.

Inventories in warehouses monitored by the Shanghai Futures Exchange rose 6.6%.

Copper

BUY COPPER JAN @ 1332 SL 1325 TGT 1342-1350. MCX

Observations

Copper trading range for the day is 1204.8-1409.8.

Copper prices rallied powered by the prospect of more stress in the supply chain.

Supply issues have dominated metals, with copper mines from Indonesia and Chile to the Democratic Republic of the Congo suffering accidents.

Copper output has been pressured by halted operations in Freeport-McMoRan's Grasberg mine in Indonesia.

Zinc

BUY ZINC JAN @ 308 SL 306 TGT 310-312. MCX

Observations

Zinc trading range for the day is 302.3-312.9.

Zinc gains as thin year-end trade extended momentum for speculative buying on a weaker dollar and worries about tighter supply.

Zinc mine in Central China is planning a routine maintenance shutdown, resulting in fewer production days.

China’s zinc output in November rose 13.3 percent year-on-year to 654,000 metric tons.