Sell Zinc Feb @ 328 SL 331 TGT 325-322. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM FEB @ 309 SL 311 TGT 307-305. MCX
Observations
Aluminium trading range for the day is 304.5-309.3.
Aluminium prices gained amid robust demand against low supply growth.
Output in China is expected to stall this year after the major producer hit its output cap of 45 million tons in 2025.
Global aluminium output rises 1.3% year on year in January – IA
Copper
SELL COPPER FEB @ 1178 SL 1188 TGT 1165-1155. MCX
Observations
Copper trading range for the day is 1146.4-1185.4.
Copper prices gained as investors stepped in to buy the dip amid thin trade volumes.
Stocks in LME-tracked warehouses increased for the 26th straight session, reaching an 11-month high.
Combined inventories across Shanghai, London, and New York also surpassed 1 million tons, the highest since 2003
Zinc
SELL ZINC FEB @ 328 SL 331 TGT 325-322. MCX
Observations
Zinc trading range for the day is 321.9-329.1.
Zinc prices gained as low inventories and mine closures, delays underpinned prices.
Refined zinc production was on track to fall 2% last year, despite the 6.3% jump in mined output.
China's economy is stable but faces challenges such as imbalance in supply and demand, the People's Bank of China said.
