Sell Aluminium Feb @ 263 SL 265 TGT 261-259. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM FEB @ 263 SL 265 TGT 261-259. MCX
Observations
Aluminium trading range for the day is 259.6-266.
Aluminium dropped as inventories in warehouses monitored by the Shanghai Futures Exchange rose 17.5%.
However downside seen limited as EU envoys' agreement to ban Russian primary aluminium imports in a fresh sanctions package.
Global primary aluminium output in January rose 2.7% year on year to 6.252 million tonnes - IAI
Copper
SELL COPPER FEB @ 864 SL 868 TGT 860-856. MCX
Observations
Copper trading range for the day is 852.3-873.3.
Copper eased after U.S. President Donald Trump threatened to impose tariffs on cars and semiconductors chips.
Shanghai warehouse copper stocks up 12.9%
China's central bank vowed to provide strong financial support for the healthy development of private economy.
Zinc
SELL ZINC FEB @ 269 SL 271 TGT 267-265. MCX
Observations
Zinc trading range for the day is 264.1-273.5.
Zinc dropped as Zinc inventories in warehouses monitored by SHFE rose 26.3 % from last Friday
The global zinc market swung to a deficit of 62,000 metric tons in 2024 from a surplus of 310,000 tons the year - ILZSG
Inventories held by LME and SHFE warehouses decreased by 31,000 tons to 791,000 tons in total - ILZSG
