Buy Zinc Dec @ 289 SL 286 TGT 292-294. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 241.8-247.4.
Aluminium dropped as China’s aluminum production increased by 2.74% YoY.
China's imports of unwrought aluminium and aluminium products in October slid 8.7% year-on-year to 320,000 metric tons year-on-year
In November, some domestic aluminum smelters underwent pot maintenance and winter environmental protection-related controls requiring production cuts.
BUY ALUMINIUM DEC @ 243 SL 241 TGT 246-248. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 820.8-840.2.
Copper erased gains after reports indicated that the Chinese government is willing to devalue the yuan next year.
Copper production in Chile, is projected to range between 5.4 and 5.6 million tons in 2025
The latest data showed that Chinese manufacturing activity expanded in November, especially for domestically-focused companies.
BUY COPPER DEC @ 825 SL 820 TGT 830-835. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 288.1-295.3.
Zinc dropped as smelter production slightly increased.
The major increase in production came from the higher-than-expected production in Qinghai, Inner Mongolia, Xinjiang, Hunan, and Shaanxi.
In December 2024, domestic refined zinc production will increase by over 20,000 mt MoM or about 5% MoM
BUY ZINC DEC @ 289 SL 286 TGT 292-294. MCX
