Buy Copper Feb @ 866 SL 862 TGT 870-874. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 263 SL 261 TGT 266-268. MCX
Observations
Aluminium trading range for the day is 259.6-269.2.
Aluminium rose amid stringent restrictions to supply and the outlook of improving demand.
China produced 44 million tons of aluminum in 2024, the most on record, meaning that output will be forced to slow considerably this year.
The US manufacturing sector unexpectedly rebounded in January and recorded its first expansion in over two years.
Copper
BUY COPPER FEB @ 866 SL 862 TGT 870-874. MCX
Observations
Copper trading range for the day is 864.8-875.8.
Copper rose as worries about the probability of a global trade war were put on a pause.
China's central bank pledges financial support for private economy
In China, authorities have ordered restrictions on copper smelting due to excess capacity in the industry.
Zinc
BUY ZINC FEB @ 270 SL 268 TGT 272-274. MCX
Observations
Zinc trading range for the day is 268.3-273.9.
Zinc gains amid continuing decline of inventories in the LME-registered warehouses.
LME zinc total stocks were at the lowest since February 2024.
PBOC said in its fourth-quarter monetary policy implementation report that it would adjust policy at the appropriate time to support the economy.
