Sell Aluminium JAN @ 213 SL 215 TGT 211-210. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 205.2-216.2.
Aluminium gains on falling inventories in China and supply disruptions in upstream feed material.
Lower inventories in China, helped raise prices.
Aluminium inventories in China, dropped to 443,000 tons, the lowest since January 2017
SELL ALUMINIUM JAN @ 213 SL 215 TGT 211-210. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 730.3-744.7.
Copper rose amid robust demand and increasing threats to supply.
Support also seen buoyed by industrial profit gains in China
Copper market in 53,000 metric tons deficit in Oct 2023 – ICSG
SELL COPPER JAN @ 740 SL 744 TGT 736-732. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 227.9-235.1.
Zinc prices rose buoyed by industrial profit gains in China.
The global refined zinc market was headed for a surplus of 248,000 metric tons this year, compared with an April's projection of 45,000 tons deficit.
Smelters in Shaanxi, Hunan and Yunnan stopped production and overhauled, resulting in significant output reductions.
SELL ZINC JAN @ 233 SL 235 TGT 231-229. MCX
