Buy Copper Jan @ 818 SL 813 TGT 824-828. MCX - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 237.6-242.4.
Aluminium dropped as global monthly aluminum production expected to hit record high in 2024.
LME reports 16% fall in available aluminium stocks in registered warehouses
China’s aluminum production in December grew by 4.13% year on year.
BUY ALUMINIUM JAN @ 239 SL 237 TGT 241-243. MCX
Copper
Observations
Copper trading range for the day is 811.5-829.9.
Copper gains amid weaker dollar and hopes that President-elect Donald Trump's proposed tariffs would be less aggressive than promised.
Markets are hopeful that Beijing will follow through on its recent promises of increased monetary and fiscal stimulus.
Strong demand for copper, driven by the rapid adoption of electric vehicles and renewable energy technologies, also supported prices.
BUY COPPER JAN @ 818 SL 813 TGT 824-828. MCX
Zinc
Observations
Zinc trading range for the day is 264.4-276.8.
Zinc dropped weighed down by uncertainty about potential tariffs on China.
LME zinc was the worst performer, sliding 1.3% to $2,838 a ton, having touched its weakest in nearly four months.
Weak Chinese economic growth was also a persistent concern.
SELL ZINC JAN @ 268 SL 2666 TGT 271-273. MCX
