Buy Zinc JAN @ 222 SL 220 TGT 225-227. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.7-204.7.
Aluminium settled flat as traders assessed global economic headwinds
The World Bank forecasted China's economic growth to slow to 4.5% in 2024.
Alcoa to curtail alumina production at Kwinana refinery
BUY ALUMINIUM JAN @ 202 SL 200 TGT 204-206. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 712.9-723.3.
Copper gains supported by a softer dollar and Chinese government support for the yuan
Abundant supplies of LME copper market have created a discount for cash copper over 3M contract
China's copper cathode output in December increased from the previous month and year-on-year.
BUY COPPER JAN @ 715 SL 711 TGT 7120-724. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 221.8-225.2.
Zinc gains as China's move to support the yuan has boosted the purchasing power.
China's refined zinc production in December 2023 increased by 2.05% compared to the previous month.
Domestic refined zinc production is expected to decrease in January 2024, potentially causing a short supply
BUY ZINC JAN @ 222 SL 220 TGT 225-227. MCX
