Buy ZINC Dec @ 283 SL 281 TGT 286-288. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 240-245.
Aluminium dropped as the social inventory of domestic aluminum ingots was up 12,000 mt compared to last Thursday.
China’s alumina production totaled around 7.4 million tons in October, growing by 5.4% compared to the same month a year ago.
RUSAL to cut aluminum output by 250,000 tons to optimize production
BUY ALUMINIUM DEC @ 241 SL 239 TGT 243-245. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 797.1-814.3.
Copper dropped amid after U.S. President-elect Donald Trump's pledge to levy more tariffs on Chinese products.
Trump pledged an additional 10% tariff on goods from China and a 25% tariff on all products from Mexico and Canada.
The LME cash copper contract was trading at a discount of $113 to the three-month contract, indicating tightening near-term supplies.
BUY COPPER DEC @ 800 SL 795 TGT 806-810. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 278.3-288.5.
Zinc rose after reports of the largest surge in orders to withdraw metal inventories from LME in nine years.
Orders to withdraw zinc from LME warehouses surged to 57,350 tons, marking an increase of 47,800 tons in a single day
The global zinc market deficit edged down to 79,500 metric tons in September from 85,000 tons in August - ILZSG
BUY ZINC DEC @ 283 SL 281 TGT 286-288. MCX
