Base metals (Copper and Zinc) price forecast for Feb-25: Generatebucks

Base metals- trading tips 


Base metals including Copper has been shinning on MCX. In past two months, we have seen Copper and other base metals touching new highs.

On Friday Copper, Zinc, Aluminium and Lead closed at 462.30, 194.50, 134.40 and 145.90 respectively.

The trend for base metals is positive but we could see some profit booking in these counters. On international front, Copper prices touched new high since July after U.S. President Donald Trump said he would delay an increase in tariffs on Chinese goods scheduled for March 1.  

Citing "substantial progress" in trade talks over the weekend, Trump also said he would plan a summit with Chinese President Xi Jinping at his estate in Florida to conclude an agreement, assuming both sides make more progress. Read more here

With decline in inflation and looking at dollar index, we can expect to see some strength in Rupee today. This could put some pressure on prices of base metals.

Individual trade in base metals


Copper

Copper which heads the base metal pack have been trading in a range since today morning. It seems that market has already discounted the optimism trade war news and we could see some profit booking today

Intraday trading tip – Overall trend of Copper is positive but I expect a profit booking today. Traders have discounted the trade war news. I would suggest a quick trade in Copper.

Short copper at 464 for target of 459 with stop loss of 467. Remember to follow strict stop loss since trend is positive.

For medium-term traders buy accumulate Copper on dips for target of 470-475 in upcoming sessions.


Zinc

Zinc opened in green zone on MCX and I expect it to follow a green trend today. Buy Zinc at 195 for target of 198 with stop loss of 193.


Aluminium

Aluminium has positive fundamentals and I expect an upside from here. Buy Aluminium at 134 for target of 137 with stop loss of 132.

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