IGI Logo

Aluminium

OBSERVATIONS

Aluminium trading range for the day is 209.8-213.6.

Aluminium gains as Qinghai earthquake prompts power management, impacting aluminium supply.

Aluminium stocks over the past two days rose by 42,400 metric tons to 551,050, the highest since June 19.

Aluminum production hub Qinghai issues power rationing emergency plan

SELL ALUMINIUM JAN @ 213 SL 215 TGT 211-209. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 724.8-738.2.

Copper prices dropped as demand in China was subdued after a burst of restocking seen recently

China aims to expand domestic demand, ensure speedy recovery, promote stable growth

China smelters cut Q1 copper guidance price as supply outlook tightens

SELL COPPER JAN @ 733 SL 737 TGT 728-725. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 230.3-235.5.

Zinc gains as zinc inventories in SHFE warehouses fell -16.60% on weekly basis.

The market's optimism that the U.S. will cut interest rates as early as March continues to grow

The industrial outlook for the next year improved on hopes of early interest rate cuts from major central banks

SELL ZINC JAN @ 234 SL 236 TGT 232-230. MCX