Sell Copper Dec @ 824 SL 829 TGT 818-814. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 245.1-247.3.
Aluminium gains amid supply disruptions in Australia and Guinea.
RUSAL’s decision to cut production by more than 6%, and news of raw material shortages triggered systemic buying.
IAI: Global primary aluminum output hit record high in Oct
SELL ALUMINIUM DEC @ 247 SL 249 TGT 245-243. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 814.6-829.8.
Copper remained in range as market participants looked for more stimulus cues from China.
The focus is on developments around potential import tariffs proposed by U.S.
President-elect Donald Trump Rio Tinto forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.
SELL COPPER DEC @ 824 SL 829 TGT 818-814. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 285.7-292.1.
Zinc gains as Beijing has hinted at potential additional stimulus measures.
China's customs authorities showed that refined zinc imports reached about 58,000 tons in October 2024
With the decline in smelter production in Q3, the tight supply of ore has been somewhat alleviated.
SELL ZINC DEC @ 290 SL 293 TGT 287-285. MCX