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Aluminium

Observation

Aluminium trading range for the day is 237.6-245.

Aluminum rose after orders to withdraw stockpiles from LME warehouses rose to the highest since mid-October.

China’s policymakers are planning to boost bond sales.

Global refined aluminum market in short supply of 40,300 tons in October.

BUY ALUMINIUM JAN @ 241 SL 239 TGT 243-245. MCX

Copper

Observation

Copper trading range for the day is 794.8-807.

Copper gains after Beijing ramped up fiscal support to revive a faltering economy.

Chinese authorities have agreed to issue CNY 3 trillion in special treasury bonds next year, which would support economic growth.

The global refined copper market showed a 41,000 metric tons deficit in October, compared with a 136,000 metric tons deficit in September

BUY COPPER JAN @ 800 SL 795 TGT 7805-809. MCX

Zinc

Observation

Zinc trading range for the day is 278.1-284.3.

Zinc rallied on revived hopes for additional fiscal stimulus in top consumer China.

Demand prospects in China got further support after Beijing planned to issue $411 billion worth of special treasury bonds next year.

Inventories in warehouses monitored by the Shanghai Futures Exchange fell 20.80% from last Friday.

BUY ZINC JAN @ 281 SL 279 TGT 283-285. MCX