BUY COPPER FEB @ 1155 SL 1145 TGT 1165-1175. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 306 SL 304 TGT 308-310. MCX
Observations
Aluminium trading range for the day is 302.7-311.3.
Aluminium dropped after IMF warned that weak domestic demand and a slowing global economy pose downside risks.
Pressure also seen after a report that U.S. President Donald Trump plans to scale back some tariffs on steel and aluminum goods.
Goldman Sachs lifted its first-half outlook for the light metal to $3,150 a ton from $2,575, attributing the hike to low global inventories.
Copper
BUY COPPER FEB @ 1155 SL 1145 TGT 1165-1175. MCX
Observations
Copper trading range for the day is 1121.9-1209.7.
Copper fell as rising inventories and subdued demand due to the holiday in China weighed.
Copper stocks in LME-approved warehouses meanwhile increased by another 925 tons to 225,575 tons, the highest since March 2025.
The cash LME copper contract was trading at a $100 a ton discount to the three-month forward contract, suggesting no pressing need for near-term metal.
Zinc
BUY ZINC FEB @ 323 SL 320 TGT 326-328. MCX
Observations
Zinc trading range for the day is 320.2-328.2.
Zinc dropped as the dollar strengthened on robust US economic data and hawkish signals from the Federal Reserve.
However downside seen limited amid persistent concerns of tight supply.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 23.1% from last Friday.
