Sell Copper Dec @ 824 SL 829 TGT 818-814. MCX - kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 240.4-244.6.
Aluminium gains as recent data suggest the stimulus announcements are improving sentiment.
Global aluminium producers have offered Japanese buyers premiums of $230-$260 per metric ton for January-March primary metal shipments.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.7% from last Friday
SELL ALUMINIUM DEC @ 245 SL 248 TGT 241-240. MCX
Copper
Observations
Copper trading range for the day is 801.2-815.4.
Copper gains supported by expectations that Beijing may announce additional stimulus measures.
Chinese manufacturing activity expanded for the second consecutive month in November, strengthening the demand outlook.
SHFE inventories falling by two-thirds since the beginning of the month 6 to 108.775 tonnes.
SELL COPPER DEC @ 824 SL 829 TGT 818-814. MCX
Zinc
Observations
Zinc trading range for the day is 282.6-288.8.
Zinc gains as investors waiting for of additional monetary or fiscal stimulus from China.
China’s factory activity expanded modestly in November.
With the decline in smelter production in Q3, the tight supply of ore has been somewhat alleviated.
SELL ZINC DEC @ 288 SL 291 TGT 285-282. MCX
