IGI Logo

ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 202.6-206.4.

Aluminium dropped on profit booking after gained as supply headwinds and demand support underpinned prices.

China's Nov aluminium imports rise amid robust demand, concerns over supply

Authorities in Yunnan, asked producers last month to cut output as the hydropower-dependent region entered its dry season.

SELL ALUMINIUM DEC @ 205 SL 206 TGT 204-203. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 714.2-735.6.

Copper prices gained underpinned by potential drops in supply, especially from the Cobre mine in Panama.

Support also seen amid falling inventories in warehouses approved by the LME triggered buying.

Copper cancelled warrants at 21% suggest more copper is likely to leave the LME system.

SELL COPPER DEC @ 730 SL 735 TGT 725-720. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 222.2-228.6.

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 @ 227 SL 229 TGT 224-222. MCX