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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 239.2-243.6.

Aluminium dropped after miner Rio Tinto lifted force majeure for alumina exports from its Australian refineries.

Global primary aluminium output in October rose 1.3% year on year to 6.221 million tonnes

China’s alumina production totaled around 7.4 million tons in October, growing by 5.4% compared to the same month a year ago.

BUY ALUMINIUM DEC @ 241 SL 239 TGT 243-245. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 803.3-810.9.

Copper prices dropped weighed down by a stronger dollar.

Pressure also seen amid concern over global growth and demand in China.

Investors are still awaiting further developments after U.S. President-elect Trump's pledges to impose a tariff on Mexico, Canada and China.

BUY COPPER DEC @ 805 SL 800 TGT 810-814. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 277.1-290.7.

Zinc dropped as dollar is relatively strong, and the pace of US interest rate cuts may be slower than previously expected.

Trafigura Group has ordered thousands of tons of zinc out of London Metal Exchange warehouses

The progress of resuming production in overseas mines is slow, and some regions in China may experience centralized maintenance.

BUY ZINC DEC @ 282 SL 280 TGT 284-286. MCX