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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 199.9-204.1.

Aluminium dropped as China's economy is shaky withdeflationary pressures and weak domestic activity.

China’s Factory-gate prices continue to decline, indicatingdeflationary pressures and dimming prospects for demand.

Consumer and producer deflation in China promptsexpectations of more stimulus measures.

BUY ALUMINIUM JAN @ 201 SL 199 TGT 203-205. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 706-723.4.

Copper dropped as inventories in SHFE warehouses rose by 30%from last Friday

China's copper imports declined by 6.3% in 2023 due toincreased domestic production

The relaxation of COVID-19 measures in China allowed localcopper producers to increase output and start new projects

BUY COPPER JAN @ 710 SL 706 TGT 715-718. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 221.1-225.1.

Zinc steadied as investors weigh industrial outlook after US data

Zinc inventories in Shanghai Futures Exchange warehouses rose15.2% from last Friday

Zinc market is projected to have a surplus in 2024, with outputgrowth outpacing demand

BUY ZINC JAN @ 222 SL 220 TGT 225-227. MCX