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Published on 19/08/2019 11:08:35 AM | Source: Kedia Commodity Ltd

Buy Aluminium Aug 2019 @ 140.00 SL 138.50 TGT 142.00-144.00.MCX - Kedia Commodities

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

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Copper

* Copper trading range for the day is 443-450.

* Copper prices dropped as the US-China trade war and the global demand slowdown continued to weigh on prices.

* China produced 801,000 mt of refined copper in July, up 4.8% from a year ago, after a year-over-year increase of 11.8% in June.

* Copper stocks across Shanghai bonded areas this week continued their slide that began since May, data showed.

* Warehouse stock for Copper at LME was at 331975mt that is up by 30225mt.

* BUY COPPER AUG 2019 @ 446.00 SL 443.00 TGT 450.00-453.00.MCX


Zinc

* Zinc trading range for the day is 181.5-186.3.

* Zinc prices dropped amid conflicting messages about the ongoing trade discussions between the United States and China.

* US President Donald Trump unexpectedly announced a delay in the imposition of a further 10% tariff on a number of Chinese goods until December 15.

* China vowed to counter the latest U.S. tariffs but called on the United States to meet it halfway on a potential trade deal.

* Warehouse stock for Zinc at LME was at 73300mt that is down by -325mt.

* BUY ZINC AUG 2019 @ 184.00 SL 182.50 TGT 185.50-187.00.MCX


Nickel

* Nickel trading range for the day is 1110.3-1176.1.

* Nickel prices gained on fears major producer Indonesia would bring forward an export ban of ore.US retail sales rose in July.

* The Philippines’ top exporter of high-grade nickel ore is expected to shut its mining operations soon as ore deposits are nearly depleted.

* Consumer sentiment in the U.S. has seen a significant deterioration in the month of August, according to a preliminary report released by the University of Michigan.

* Warehouse stock for Nickel at LME was at 145134mt that is up by 342mt.

* BUY NICKEL AUG 2019 @ 1140.00 SL 1125.00 TGT 1160.00-1175.00


Aluminium

* Aluminium trading range for the day is 140-142.

* Aluminium prices dropped as prices sidelined reflecting investors’ worries about muted economic growth.

* A report released by the Commerce Department showed an unexpected slump in housing starts in the month of July.

* Inventories of aluminium billet in China shrank this week with a significant decline in stocks in Foshan city of south China’s Guangdong province.

* Warehouse stock for Aluminium at LME was at 969250mt that is down by -7450mt.

* BUY ALUMINIUM AUG 2019 @ 140.00 SL 138.50 TGT 142.00-144.00.MCX

 

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