Sell Zinc Feb @ 263 SL 265 TGT 261-259. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM FEB @ 250 SL 252 TGT 248-246. MCX
Observations
Aluminium trading range for the day is 247.7-252.7.
Aluminium fell as global markets braced for the threat of U.S. tariffs on Canada and Mexico.
Prices were also affected by recent concern over global economic growth.
The main markets in China are closed for the Lunar New Year holiday until Feb. 5.
Copper
SELL COPPER FEB @ 830 SL 834 TGT 825-820. MCX
Observations
Copper trading range for the day is 825-832.4.
Copper prices ended with losses driven by concerns over US President Donald Trump’s tariff threats.
Trump reaffirmed plans to impose 25% tariffs on Mexico and Canada, while a 10% tariff on China is still under consideration.
Data showed that Chinese manufacturing activity unexpectedly contracted in January.
Zinc
SELL ZINC FEB @ 263 SL 265 TGT 261-259. MCX
Observations
Zinc trading range for the day is 252.9-269.1.
Zinc prices dropped after reduction in customs duty on zinc scrap and waste from 5% to nil.
However downside seen limited as global mined production declines for third consecutive year
LME zinc total stocks were at the lowest since February 2024.
