Buy Zinc Feb @ 267 SL 265 TGT 269-271. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 253 SL 251 TGT 255-257. MCX
Observations
Aluminium trading range for the day is 250.3-256.7.
Aluminium gains as EU’s proposed ban on Russian aluminum raises market concerns
Aluminium stocks at three major Japanese ports rose to 323,600 metric tons by the end of December, up about 13.2%.
The main markets in China are closed for the Lunar New Year holiday until Feb. 5.
Copper
BUY COPPER FEB @ 838 SL 834 TGT 842-846. MCX
Observations
Copper trading range for the day is 832.8-845.
Copper gained after US President and leaders of Canada and Mexico reached a deal to put tariffs on hold for at least a month.
China slapped tariffs on U.S. imports in a swift response to new U.S. duties on Chinese goods, renewing a trade war.
Copper output in Chile, increased 14.3% year-on-year in December to 566,547 metric tons.
Zinc
BUY ZINC FEB @ 267 SL 265 TGT 269-271. MCX
Observations
Zinc trading range for the day is 264.8-270.4.
Zinc gains amid supply concerns as global mined zinc production fell for the third consecutive year in 2024.
Output from the world’s largest mine, the Red Dog Mine in Alaska, is due to slow in 2025.
Support also seen amid continuing decline of inventories in the LME-registered warehouses.
