BUY ZINC DEC @ 217 SL 215 TGT 220-222. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 192.2-197.6.
Aluminium gains amid hopes of more economic stimulus from top metals consumer China.
The discount for cash aluminium against the three-month contract reached its three-month high of $47 per ton.
China’s primary aluminium production totaled 3.62 million tons in October, up by 6%
BUY ALUMINIUM DEC @ 195 SL 194 TGT 197-198. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 708-718.
Copper dropped as China's Central Economic Work Conference lacking new stimulus for the country's property sector.
China's imports of copper rose 10.1 % from month ago to 550,565.6 tonnes in November
Macquarie now expects copper market surpluses of 100,000 and 287,000 tons for 2024 and 2025 respectively
BUY COPPER DEC @ 712 SL 708 TGT 716-720. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 215.8-220.
Zinc dropped as China's agenda-setting meeting that failed to meet investors' expectation and darkened demand outlook
Developing Asia to end 2023 on brighter note as China's economy recovers - ADB
The global zinc market swung to a deficit of 15,400 metric tons in September from a surplus of 28,000 tons in August
BUY ZINC DEC @ 217 SL 215 TGT 220-222. MCX
