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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 206.1-209.7.

Aluminium dropped on profit booking after prices rose due to supply concerns x

The blast at an oil terminal in major bauxite supplier Guinea sparked fears of a shortage of the feed material for alumina.

Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 8.8% from last Friday.

SELL ALUMINIUM JAN @ 209 SL 211 TGT 207-205. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 729.9-736.7.

Copper gains after support seen helped by expectations of Chinese economic policy support.

Copper market in 53,000 metric tons deficit in Oct 2023 – ICSG

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 16.5% from last Friday.

SELL COPPER JAN @ 734 SL 738 TGT 730-726. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 226.8-231.8.

Zinc prices gained as China's refined zinc output dropped 4.23% month on month in November.

The global zinc market deficit eased to 52,500 metric tons in October from a deficit of 62,000 tons in September

China, registered accelerating growth in its industrial output for November

SELL ZINC JAN @ 230 SL 233 TGT 227-225. MCX