Buy Copper Jan @ 712 SL 708 TGT 717-720. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 198.5-202.9
Aluminium prices dropped due to cautious trading ahead of China's key economic data release
China's central bank boosted liquidity injections but left interest rates unchanged
China is grappling with deflationary pressures, with consumer and producer prices falling
BUY ALUMINIUM JAN @ 199 SL 197.5 TGT 201-203. MCX
COPPER:
OBSERVATIONS:
Copper trading range for the day is 712.3-717.7.
Copper gains supported by mine-side disruption.
China's central bank has boosted liquidity injections but kept interest rates unchanged
Factory-gate prices in China for metals continue to decline, indicating ongoing deflationary pressures
BUY COPPER JAN @ 712 SL 708 TGT 717-720. MCX
ZINC:
OBSERVATIONS:
Zinc trading range for the day is 221.5-229.1.
Zinc gains as Nyrstar to suspend Budel zinc operations in second half of January
The zinc market is expected to have a surplus in 2024, with output growth surpassing demand.
The support for zinc comes from hopes of a fuller economic recovery in China
BUY ZINC JAN @ 224 SL 222 TGT 227-229. MCX
