Buy Copper Jan @ 1280 SL 1272 TGT 1288-1294. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JAN @ 295 SL 293 TGT 297-299. MCX
Observations
Aluminium trading range for the day is 293.3-299.7.
Aluminium prices dropped on profit booking amid growing concerns of low supply.
Global primary aluminium output in November rose 0.5% year on year to 6.086 million tonnes – IAI
Inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.0% from December 26.
Copper
BUY COPPER JAN @ 1280 SL 1272 TGT 1288-1294. MCX
Observations
Copper trading range for the day is 1225.3-1357.1.
Copper prices fell as the dollar strengthened and some investors took profit.
The Yangshan copper premium is finishing the year at $51 a ton, after hitting a three-month high of $55 last week.
Copper output in Chile, fell 7.18% year-on-year in November to 451,815 metric tons, statistics agency INE said.
Zinc
BUY ZINC JAN @ 306 SL 304 TGT 308-310. MCX
Observations
Zinc trading range for the day is 303.9-310.7.
Zinc dropped on profit booking after prices gained amid speculative buying on worries about tighter supply.
Pressure also seen dragged down by revived demand concerns triggered by a raft of remaining weak data in China.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange dropped 4.3% from December 26.
