Buy Zinc Feb @ 206 SL 204 TGT 209-211. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS:
Aluminium trading range for the day is 198.3-202.1.
Aluminium down as traders gauged the lack of fresh market-moving catalysts
China's export of aluminium covered by EU carbon tax down 30% in 2023
Japan's imports of primary aluminium fell 26% to 1.03 million metric tons in 2023
BUY ALUMINIUM FEB @ 200 SL 198 TGT 202-203. MCX
Copper
OBSERVATIONS:
Copper trading range for the day is 697.6-710.6
Copper dropped due to strength in the dollar and pessimistic industrial sentiment in China.
Yangshan copper premium declined as factories refrained from purchasing the metal
Strong labor data in the US and hawkish remarks from Fed Powell lifted the dollar.
BUY COPPER FEB @ 702 SL 698 TGT 706-708. MCX
Zinc
OBSERVATIONS:
Zinc trading range for the day is 204.6-211.4.
Zinc dropped as an economic and demand slowdown in China pressured prices.
Chinese manufacturing PMI data showed a fourth consecutive contraction in the sector, hampering the prices.
Caixin China General Manufacturing PMI unexpectedly showed growth in factory activity for the third straight month.
BUY ZINC FEB @ 206 SL 204 TGT 209-211. MCX
