Buy Copper Jan @ 835 SL 830 TGT 842-848. MCX - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 246.9-256.7.
Aluminium rose due to worries about tightening supplies to EU if the bloc bans imports of the metal from Russia.
Support also seen on concern over sliding stocks in LME, dropped 45% since May last year.
However upside seen limited as aluminium stocks at Japanese ports rose, up about 13.2% from the previous month
BUY ALUMINIUM JAN @ 251 SL 249 TGT 254-256. MCX
Copper
Observations
Copper trading range for the day is 826.5-845.5.
Copper rose as a surprise decline in US core inflation supported bets on further interest rate cuts from Fed.
Lower US rates could stimulate demand for commodities by supporting economic growth and weakening the dollar.
Additionally, hopes that China will implement aggressive economic support measures, including fiscal and monetary stimulus, to boost consumption further.
BUY COPPER JAN @ 835 SL 830 TGT 842-848. MCX
Zinc
Observations
Zinc trading range for the day is 270.8-276.4.
Zinc gains as the Chinese government committed to aggressive economic support measures.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange down 10.80% from last Friday.
In December 2024, data showed that China's refined zinc production increased by nearly 10,000 mt MoM or over 1% MoM.
BUY ZINC JAN @ 273 SL 271 TGT 276-278. MCX
