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Aluminium

BUY ALUMINIUM JAN @ 289 SL 287 TGT 291-293. MCX

Observations

Aluminium trading range for the day is 273.4-323.6.

Aluminium prices dropped as inventories in warehouses monitored by the Shanghai Futures Exchange rose 6.6%.

Global aluminium output rises 0.5% year on year in November – IAI

However, moves by Chinese smelters to build new plants in Indonesia continued to face troubles amid higher energy costs and local regulations risks.

Copper

BUY COPPER JAN @ 1225 SL 1218 TGT 1232-1238. MCX

Observations

Copper trading range for the day is 1083.6-1467.4.

Copper dropped on profit booking from record highs amid tight supply and robust US economic growth underpinned prices.

China’s top smelters planning over a 10% output reduction in 2026 to address overcapacity.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 16.6%.

Zinc

BUY ZINC JAN @ 303 SL 301 TGT 305-307. MCX

Observations

Zinc trading range for the day is 290.6-329.

Zinc dropped as China’s zinc output in November rose 13.3 percent year-on-year to 654,000 metric tons.

Pressure also seen dragged down by revived demand concerns triggered by a raft of remaining weak data in China.

Zinc mine in Central China is planning a routine maintenance shutdown, resulting in fewer production days.