Buy Copper Feb @ 823 SL 819 TGT 827-830. MCX - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 245.6-253.4.
Aluminium dropped as investors looked forward to Fed policy meeting for clues on the interest rate trajectory.
Global primary aluminium output in December rose 3% year on year to 6.236 million tonnes - IAI
Aluminium stocks at three major Japanese ports rose to 323,600 metric tons by the end of December, up about 13.2% from the previous month.
BUY ALUMINIUM FEB @ 248 SL 246 TGT 250-252. MCX
Copper
Observations
Copper trading range for the day is 816-847.4.
Copper dropped dampened by US President Trump’s threat to impose tariffs and sanctions on Colombia.
The decline was also fueled by disappointing economic data, with manufacturing activity in China, unexpectedly contracting.
Antofagasta reported a modest 1% rise in its 2024 copper production to 664,000 metric tons.
BUY COPPER FEB @ 823 SL 819 TGT 827-830. MCX
Zinc
Observations
Zinc trading range for the day is 266.3-272.7.
Zinc dropped as investors looked for clarity on U.S. President Donald Trump's tariff and policy plans.
The global zinc market deficit in November fell to 52,900 metric tons from 65,400 tons in October.
Industrial output in China accelerated sharply in December and credit aggregates gained traction
BUY ZINC FEB @ 268 SL 266 TGT 270-272. MCX
