Sell Aluminium Feb @ 259 SL 261 TGT 257-255. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM FEB @ 259 SL 261 TGT 257-255. MCX
OBSERVATIONS
Aluminium trading range for the day is 255.1-259.9.
Aluminium settled flat amid fears of a global trade war after US President imposed a 25% tariff on all aluminum imports.
The U.S. aluminium premium over the global benchmark on LME has shot up by a quarter since February 7 to 35 cents per pound.
Pressure also seen amid resumption of aluminium production in China
COPPER
SELL COPPER FEB @ 866 SL 870 TGT 862-858. MCX
OBSERVATIONS
Copper trading range for the day is 846.4-873.6.
Copper gains after U.S. President Trump pushed forward his plans to slap tariffs on industrial metals.
The premium of U.S. Comex copper futures over those traded on LME surged to a record of $920 per metric ton, up from $558.
Support also seen amid expectations of aggressive fiscal stimulus by the Chinese government.
ZINC
SELL ZINC FEB @ 270 SL 272 TGT 268-266. MCX
OBSERVATION
Zinc trading range for the day is 265.9-270.3.
Zinc gains as supply concerns continued to support prices
New aggregates showed that global mined zinc production fell for the third consecutive year in 2024.
Also, the Red Dog Mine in Alaska, and responsible for 10% of global output, is due to slow in 2025
