Buy Zinc Dec @ 301 SL 299 TGT 303-305. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM DEC @ 280 SL 278 TGT 282-284. MCX
Observations
Aluminium trading range for the day is 279.3-284.3.
Aluminium gains after confirmation that the Mozal smelter in Mozambique will be shut, which will dent global supplies next year.
However upside seen limited dragged down by revived demand concerns triggered by a raft of remaining weak data in China.
Aluminium stocks at three major Japanese ports fell to 312,100 metric tons by the end of November, a drop of 5.2% from the previous month.
Copper
BUY COPPER DEC @ 1106 SL 1100 TGT 1114-1120. MCX
Observations
Copper trading range for the day is 1103.1-1120.1.
Copper dropped on profit booking with the market focusing on future United States interest rate path.
China's refined copper production in November jumped 11.9% year-on-year to 1.24 million tons.
Peru's copper production grew 4.8% in October compared to the same month in 2024, reaching 248,192 metric tons.
Zinc
BUY ZINC DEC @ 301 SL 299 TGT 303-305. MCX
Observations
Zinc trading range for the day is 300.4-305.
Zinc dropped as China Nov zinc output +13.3 % y/y at 654,000 metric tons.
Global zinc market deficit edges down in October, ILZSG says
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange dropped 12.30% from last Friday.
