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Published on 17/04/2018 11:11:27 AM | Source: Kedia Commodity Ltd

Aluminium trading range for the day is 146.9-163.5 - Kedia Commodity

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

COPPER

Copper trading range for the day is 437.9-455.3.

Copper gained as losses in the U.S. dollar bolstered, though gains were muted as financial markets bet that air strikes on Syria would not escalate into a wider conflict.

China's imports of unwrought copper and copper products in March grew 22% month on month and stood at 439,000 mt, according to data from China Customs.

China likely carried most of its strong economic momentum from last year into the first quarter of 2018.

Warehouse stock for Copper at LME was at 352000mt that is down by -5025mt.

SELL COPPER APR 2018 @ 450.00 SL 453.50 TGT 446.20-442.50.MCX.

ZINC

Zinc trading range for the day is 200.3-209.3.

Zinc gains as support seen after an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area.

China’s State Reserve Bureau may release 50,000-60,000 mt of zinc ingot to be received by some state-owned enterprises.

South Korea is seeking to buy a total 1,500 tonnes of zinc for July arrival via separate tenders, the state-run Procurement Service said

Warehouse stock for Zinc at LME was at 192725mt that is down by -1950mt.

SELL ZINC APR 2018 @ 206.50 SL 208.00 TGT 204.50-202.80.MCX.

NICKEL

Nickel trading range for the day is 892.6-956.4.

Nickel prices gained as support seen after China's Tangshan imposes further steel cuts after smog forecast.

Steel mills have been ordered to cut 50 percent of sintering capacity over and above the existing output restrictions in place until November.

Nickel ore production at PT Aneka Tambang (Antam) surged 301% year on year to 2.11 million wet metric tonnes (wmt) in January-March of this year.

Warehouse stock for Nickel at LME was at 311988mt that is down by -966mt.

BUY NICKEL APR 2018 @ 915.00 SL 905.00 TGT 928.00-940.00.MCX.

ALUMINIUM

Aluminium trading range for the day is 146.9-163.5.

Aluminium gained after Rio Tinto said it would declare force majeure on certain customer contracts in light of U.S. sanctions on its partner.

Concerns over supply shortages focus not only on aluminium but also on the substance used to make the metal.

China, "may be able to step in and supply metal to Rusal customers, possibly even for political reasons", but this would be "only a temporary alleviation on the impact"

Warehouse stock for Aluminium at LME was at 1360275mt that is up by 15100mt.

BUY ALUMINIUM APR 2018 @ 153.00 SL 151.00 TGT 155.50-158.00.MCX.


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