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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 198.1-207.1.

Aluminium gains amid drop in China's aluminum operating capacity, mainly from major cuts in Yunnan due to power shortages.

China's primary aluminium output in November climbed 4.8% from a year earlier

PBOC launched a total of CNY 1.45 trillion via a one-year medium-term lending facility (MLF) to the banking system and left the interest rate unchanged at 2.50%.

SELL ALUMINIUM DEC @ 204 SL 206 TGT 202-200. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 716.2-735.6.

Copper dropped as inventories in SHFE warehouses rose 13.4%

China likely to set 2024 economic growth target at around 5.0%

Spot copper fees drop 25% from September on supply tightness

SELL COPPER DEC @ 730 SL 735 TGT 725-722. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 221.3-224.7.

Zinc gains on improving Chinese industrial data and hopes for lower U.S. interest rates.

China's industrial production advanced by 6.6% year-on-year in November 2023

Also helping improve sentiment about the troubled property sector in China was news that Beijing and Shanghai relaxed home purchase restrictions China

SELL ZINC DEC @ 225 SL 228 TGT 222-220. MCX