Buy Copper Feb @ 724 SL 720 TGT 728-730. MCX
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ALUMINIUM:
OBSERVATIONS:
Aluminium trading range for the day is 201.1-204.9.
Aluminium dropped on profit booking after prices rose after real estate "white list" and purchasing restrictions ease
China produced 3.59 million tons of primary aluminium in December, a 4.9% increase from the previous year
China factory activity shrinks for 4th month: NBS
BUY ALUMINIUM FEB @ 201 SL 199 TGT 203-204. MCX
COPPER:
OBSERVATIONS:
Copper trading range for the day is 722.4-734.2.
Copper prices fell due to a stronger dollar and signals of no U.S. rate cut in March.
Chinese copper smelters propose output cuts on concentrate tightness
CNIA said it had advised copper smelters to cut production and postpone new projects amid tightening raw material supplies.
BUY COPPER FEB @ 724 SL 720 TGT 728-730. MCX
ZINC:
OBSERVATIONS:
Zinc trading range for the day is 218.4-225.2
Zinc dropped as sentiment over China's economic activity continues to be clouded
Global zinc supplies estimated at around 14 million tons
Lack of concern about zinc supplies can be seen in the discount for cash over three-month zinc contracts.
BUY ZINC FEB @ 219 SL 217 TGT 222-224. MCX
