MCX Aluminum may note some gains tracking copper prices, however the upside remains capped. Prices may also seek support from talks of production cuts however record high stocks at LME may cap the upside.
Stocks at LME hit new high of 5114175 tons yesterday while stocks at SHFE rose by 23316 tons or 8.2% last week. Support for MCX Aluminum February contract is seen at Rs.107.5 while resistance of Rs.111.
No comments:
Post a Comment