Buy Zinc Feb @ 270 SL 268 TGT 272-274. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 259 SL 257 TGT 262-264. MCX
Observations
Aluminium trading range for the day is 256.2-262.4.
Aluminium rose due to supply risks after U.S. President Trump said he was set to impose new 25% tariffs on all aluminium imports.
European Union's plan to gradually ban Russian aluminum imports has sparked concerns.
Global primary aluminium output in December rose 3% year on year to 6.236 million tonnes.
Copper
BUY COPPER FEB @ 865 SL 861 TGT 870-875. MCX
Observations
Copper trading range for the day is 860.3-872.9.
Copper settled flat as inventories in China increased by 31,700 mt WoW to 304,800 mt.
Total inventories rose by 139,000 mt compared to the pre-holiday level of 165,800 mt.
The Yangshan copper premium, was last at $68 per ton, down from a one-year high of $76 reached on Jan. 20.
Zinc
BUY ZINC FEB @ 270 SL 268 TGT 272-274. MCX
Observations
Zinc trading range for the day is 267.4-273.
Zinc dropped as inventories rose 81.8% from last release on Jan 24.
However downside seen limited amid supply concerns as global mined zinc production fell for the third consecutive year.
SHFE reopened after the lunar new year holidays and investors are hoping China will unleash more stimulus
