Buy Copper Feb @ 864 SL 860 TGT 870-874. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 256 SL 254 TGT 258.5-260. MCX
Observations
Aluminium trading range for the day is 255.8-259.8.
Aluminium gained as supply concerns and strong leading indicators for manufacturers improved the outlook.
European Union's plan to gradually ban Russian aluminum imports has sparked concerns.
Global primary aluminium output in December rose 3% year on year to 6.236 million tonnes.
Copper
BUY COPPER FEB @ 864 SL 860 TGT 870-874. MCX
Observations
Copper trading range for the day is 852.9-876.9.
Copper gains as the return of China after the Lunar New Year holidays eased fears over trade tensions.
SHFE copper inventories saw a seasonal jump by 81.5% from last release on Jan. 24 to the highest in almost five months.
The Yangshan copper premium, was last at $68 per ton, down from a one-year high of $76 reached on Jan. 20.
Zinc
BUY ZINC FEB @ 269 SL 267 TGT 272-274. MCX
Observations
Zinc trading range for the day is 268.4-274.
Zinc rose as fears about a full-blown trade war eased despite threats by U.S. President Donald Trump.
Global mined zinc production fell for the third consecutive year in 2024.
Investors are hoping China will unleash more stimulus at its National People's Congress meeting in March.
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