SELL ZINC FEB @ 325 SL 328 TGT 322-320. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM FEB @ 310 SL 312 TGT 308-306. MCX
Observations
Aluminium trading range for the day is 301-315.4.
Aluminium gains as Australia’s South 32 confirmed that it would wind down a smelter in Mozambique.
However, upside seen limited after a report the U.S. may trim some tariffs and other industrial metals.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 21.3% from last Friday.
Copper
SELL COPPER FEB @ 1215 SL 1225 TGT 1205-1195. MCX
Observations
Copper trading range for the day is 1162-1249.2.
Copper gains as investors bet on rising demand from global manufacturing while constrained mine output supports prices.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 9.5 % from last Friday, the exchange said.
Physical demand is falling in China ahead of the nine-day break to start on February 15.
Zinc
SELL ZINC FEB @ 325 SL 328 TGT 322-320. MCX
Observations
Zinc trading range for the day is 317.5-327.7.
Zinc recovered all losses amid persistent concerns of tight supply.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 23.1% from last Friday, the exchange said.
Goldman Sachs expects the global zinc market to be in a small surplus this year.
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