Buy Zinc Feb @ 318 SL 316 TGT 320-322. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 303 SL 301 TGT 305-307. MCX
Observations
Aluminium trading range for the day is 300.2-309.6.
Aluminium dropped after a report that U.S. President Trump plans to scale back some tariffs on steel and aluminum goods.
South32, confirmed its Mozal aluminum plant in Mozambique will enter care and maintenance next month.
Goldman Sachs lifted its first-half outlook for the light metal to $3,150 a ton from $2,575, attributing the hike to low global inventories
Copper
BUY COPPER FEB @ 1140 SL 1130 TGT 1155-1165. MCX
Observations
Copper trading range for the day is 1108.7-1214.1.
Copper prices dropped amid decline as global stockpiles continued to increase, dampening market confidence.
Copper stocks held in LME warehouses jumped 4.6% to reach 221,625 tons.
The global refined copper market showed a 94,000 metric tons surplus in November, compared with a 48,000 metric tons surplus in October.
Zinc
BUY ZINC FEB @ 318 SL 316 TGT 320-322. MCX
Observations
Zinc trading range for the day is 316.9-321.7.
Zinc dropped as a firmer dollar, coupled with increasing inventories and weak demand, pressured prices.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 23.1% from last Friday.
However downside seen limited amid persistent concerns of tight supply.
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