Buy Copper Jan @ 1285 SL 1278 TGT 1295-1304. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JAN @ 301 SL 299 TGT 304-306. MCX
Observations
Aluminium trading range for the day is 294.4-309.2.
Aluminium prices rose tracking LME prices touched $3,000 a ton for the first time in more than three years.
Prices gained due to a tightening supply outlook and bets on long-term demand.
Prices gained support from a cap on Chinese smelting capacity of 45 million tons, which is expected to tighten supply as demand climbs.
Copper
BUY COPPER JAN @ 1285 SL 1278 TGT 1295-1304. MCX
Observations
Copper trading range for the day is 1245-1341.
Copper declined as US Manufacturing PMI eased to 51.8 in December from 52.2.
However, downside seen limited underpinned by mine disruptions and concerns around tariffs
Capstone Chile mine to run at 30% of normal output during strike
Zinc
BUY ZINC JAN @ 306 SL 304 TGT 309-311. MCX
Observations
Zinc trading range for the day is 303.2-311.6.
Zinc dropped dragged down by revived demand concerns triggered by a raft of remaining weak data in China.
However, downside seen limited on worries about tighter supply.
China’s zinc output in November rose 13.3 percent year-on-year to 654,000 metric tons.
