BUY ZINC JAN @ 311 SL 309 TGT 313-315. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JAN @ 314 SL 312 TGT 316-318. MCX
Observations
Aluminium trading range for the day is 310.1-319.3.
Aluminium gains as investors reassessed expectations around tightening supply and robust global demand.
Support also seen as investor optimism reflects early signs of economic stabilization after Beijing’s support for key sectors.
LME aluminum inventory recorded 509,300 mt, an increase of 2,100 mt from the previous day, up 0.41%
Copper
BUY COPPER JAN @ 1270 SL 1260 TGT 1280-12900. MCX
Observations
Copper trading range for the day is 1233.7-1307.7.
Copper prices dropped as signs of softening demand momentarily outweighed lingering concerns of tight supply.
Global refined copper market showed a 94,000 metric tons surplus in November, compared with a 48,000 metric tons surplus in October – ICSG
Copper stocks on the U.S. Comex exchange have risen to over 500,000 metric tons for the first time.
Zinc
BUY ZINC JAN @ 311 SL 309 TGT 313-315. MCX
Observations
Zinc trading range for the day is 307.1-315.9.
Zinc gains on a weaker dollar and after data from China came in better than expected.
Global zinc market deficit rose to 7,700 metric tons in November from 2,800 tons in October – ILZSG
Investors were encouraged by data showing China's industrial output rose 5.2% in December from a year earlier
