Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* Copper trading range for the day is 404.1-410.5.
* Copper dropped after weak manufacturing and investment data from top consumer China reinforced expectations of damage to growth and demand prospects.
* More than 3,000 unionized workers at Codelco's sprawling Chuquicamata copper mine walked off the job after failing to reach a labor deal earlier with Codelco.
* Rising copper stocks in LME approved warehouses – at 252,425 tonnes and up 35% since late May – are weighing on copper prices.
* Warehouse stock for Copper at LME was at 252425mt that is up by 3875mt.
* BUY COPPER JUN 2019 @ 407.00 SL 404.50 TGT 410.00-413.50.MCX
* Zinc trading range for the day is 202.2-205.6.
* Zinc dropped after China released data showing its industrial output growth slowed to a more than 17-year low of 5% in May.
* Higher social inventories of primary zinc and expectations of further buildup in stocks kept the prices under pressure.
* LME cash zinc premiums expanded to $148.5/mt, which renewed the expectations of higher inventories
* Warehouse stock for Zinc at LME was at 100625mt that is down by -1475mt.
* BUY ZINC JUN 2019 @ 203.50 SL 202.00 TGT 205.50-207.00.MCX
* Nickel trading range for the day is 867-888.
* Nickel prices continued its gains on concerns that supply of the metal from Indonesia would be disrupted as flooding has impacted some mines there.
* A widespread flooding in Indonesia's nickel hub of Sulawesi has sparked concerns of disruption in nickel supply from Indonesia.
* Nickel stocks in warehouses tracked by the Shanghai Futures Exchange jumped 52.6% from two weeks earlier to 5,835 tonnes.
* Warehouse stock for Nickel at LME was at 163122mt that is down by -582mt.
* BUY NICKEL JUN 2019 @ 875.00 SL 865.00 TGT 888.00-895.00.MCX
* Aluminium trading range for the day is 141.3-143.9.
* Aluminium dropped as the US dollar rose as US President Donald Trump struck a slightly more positive tone on the US-China trade war.
* China's aluminium production rose by 2.4 percent in May from a year earlier, official data showed.
* In the first five months of the year, China produced 14.45 million tonnes of aluminium, a rise of 2.7 percent from the same period last year, the data showed.
* Warehouse stock for Aluminium at LME was at 1064625mt that is down by -11125mt.
* BUY ALUMINIUM JUN 2019 @ 142.00 SL 140.50 TGT 143.50-145.00.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer