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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 240.4-243.8.

Aluminium gains on revived hopes for additional fiscal stimulus in China.

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

OBSERVATIONS

Copper trading range for the day is 793.6-815.8.

Copper prices inched lower in holiday-thinned trading as market participants awaited economic data from China.

Chinese policymakers hope policy support measures introduced late this year will bolster the property market.

On a week-on-week basis, copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.7% on Dec. 27.

BUY COPPER JAN @ 800 SL 795 TGT 805-808. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 278.8-287.6.

Zinc dropped as China's refined zinc production in December will increase by over 5% MoM.

Zinc inventories in warehouses monitored by the SHFE fell 24.67% from last Friday

Data showed that retail sales growth in China slowed more than expected in November, reflecting weakening consumption.

BUY ZINC JAN @ 282 SL 280 TGT 284-286. MCX