Buy Copper Dec@ 1110 SL 1096 TGT 1126-1136. MCX -Kedia Advisory
Aluminium
BUY ALUMINIUM DEC @ 280.5 SL 268 TGT 295-302. MCX
Observations
Aluminium trading range for the day is 281.4-285.4.
Aluminium prices gained after South32 said it would shut its Mozal smelter in March.
China's import of unwrought aluminium and aluminium products fell 14% in November from a year ago.
China's domestic output of aluminium remained strong in November, up 2.5% year on year at 3.79 million ton.
Copper
BUY COPPER DEC @ 1110 SL 1096 TGT 1126-1136. MCX
Observations
Copper trading range for the day is 1105.3-1124.3.
Copper prices dropped as China's refined copper production in November jumped 11.9% year-on-year to 1.24 million tons.
However downside seen limited amid mine supply constraints, while a firmer dollar capped gains.
Copper inventories in warehouses monitored by the SHFE rose 7.2% from a week before on December 12.
Zinc
BUY ZINC DEC @ 300 SL 294 TGT 310-320. MCX
Observations
Zinc trading range for the day is 298.1-306.1.
Zinc dropped as China’s zinc output in November rose 13.3 percent year-on-year to 654,000 metric tons.
Pressure also seen dragged down by revived demand concerns triggered by a raft of remaining weak data in China.
China's factory output and retail sales growth slowed further in November, weighed by weak domestic demand.
