Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
Copper trading range for the day is 421.9-434.5.
Copper prices rose on optimism that the United States and top metals consumer China are closer to resolving their long-running trade dispute.
Prices also seen support as market sentiment improved on hopes of a second Brexit referendum.
Chile's Cochilco state copper commission maintained its average price prediction of $3.05 per pound for 2019, rising to $3.08 for 2020.
Warehouse stock for Copper at LME was at 135100mt that is up by 125mt.
BUY COPPER 28 FEB 2019 @ 422.00 SL 419.00 TGT 425.80-429.00.MCX.
Zinc trading range for the day is 179.6-189.
Zinc prices gained amid hopes on eased US-China trade tension and LME inventories shrink.
China's refined zinc production saw its steepest plunge since 2013 last year amid tight raw material supply and longer maintenance periods.
China’s December output slipped by 4.4 percent on a daily basis from November to a monthly total of 393,000 tonnes.
Warehouse stock for Zinc at LME was at 121650mt that is down by -1225mt.
BUY ZINC 31 JAN 2019 @ 181.00 SL 179.50 TGT 183.80-186.00.MCX.
Nickel trading range for the day is 817.7-853.3.
Nickel prices gained amid falling stockpiles and a tightening of time spreads suggested an undersupplied market.
Nickel stocks in LME-registered warehouses at around 200,000 tonnes are down from more than 360,000 tonnes at the start of 2018 and at their lowest level since mid-2013.
The discount of cash nickel compared to three-month metal rose to $67 from $9, which was the smallest discount in nearly two years.
Warehouse stock for Nickel at LME was at 201228mt that is down by -156mt.
BUY NICKEL 31 JAN 2019 @ 820.00 SL 812.00 TGT 832.00-844.00.MCX.
Aluminium trading range for the day is 130.9-134.3.
Aluminium gained as China announced more stimulus, with the country's central bank injecting more cash into the financial system.
A vote by U.S. lawmakers cleared the way for sanctions to be lifted on major producer Rusal, potentially increasing supply.
Aluminium stocks held at three major Japanese ports had risen 7.2 percent to 316,800 tonnes by the end of December from the previous month.
Warehouse stock for Aluminium at LME was at 1303475mt that is down by -525mt.
BUY ALUMINIUM 31 JAN 2019 @ 131.00 SL 129.50 TGT 133.50-136.00.MCX.
To Read Complete Report & Disclaimer Click Here
Views express by all participants area for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer