Buy Copper Feb @ 833 SL 828 TGT 838-842. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 253 SL 251 TGT 255-257. MCX
Observations
Aluminium trading range for the day is 244.5-258.7.
Aluminium gains as EU’s proposed ban on Russian aluminum raises market concerns
Aluminium stocks at three major Japanese ports rose to 323,600 metric tons by the end of December, up about 13.2%.
The main markets in China are closed for the Lunar New Year holiday until Feb. 5.
Copper
BUY COPPER FEB @ 833 SL 828 TGT 838-842. MCX
Observations
Copper trading range for the day is 814.3-847.5.
Copper gained as weak Rupee supported after pressure seen as U.S. President's 10% tariff on imports from China.
China said it would challenge Trump's move at the World Trade Organization and take other countermeasures.
The Caixin China General Manufacturing PMI stood at 50.1 in January 2025, less than market consensus.
Zinc
BUY ZINC FEB @ 266 SL 264 TGT 268-270. MCX
Observations
Zinc trading range for the day is 256.1-273.3.
Zinc gains amid supply concerns as global mined zinc production fell for the third consecutive year in 2024.
Output from the world’s largest mine, the Red Dog Mine in Alaska, is due to slow in 2025.
Support also seen amid continuing decline of inventories in the LME-registered warehouses.
