Published on 20/01/2020 10:20:11 AM | Source: Kedia Commodity Ltd

Buy Zinc Jan 2020 @ 181.50 SL 180.00 TGT 183.50-185.00.MCX - Kedia Commodity

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

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* Copper trading range for the day is 450.8-457.4.

* Copper prices gained lifted by better-than-expected data from China - the world's biggest consumer of the malleable metal.

* Prices seen support as declining stocks of copper in LME-approved warehouses, which shed 1,275 tonnes to 126,775 tonnes.

* China’s Industrial output grew 6.9% in December from last year, the strongest pace in nine months and beating expectations

* Warehouse stock for Copper at LME was at 125250mt that is down by -1525mt

* BUY COPPER JAN 2020 @ 452.00 SL 450.00 TGT 455.00-457.00.MCX



* Zinc trading range for the day is 182.3-185.1.

* Zinc prices gained as upbeat U.S. economic data adding to optimism after China and the U.S. signed a partial trade deal.

* The People's Bank of China (PBOC) injected 300 billion yuan into the market, to maintain liquidity in the banking system at a reasonably sufficient level

* Zinc inventories in China continued to trend higher, as consumption was stagnated with downstream processors, except for those in east China

* Warehouse stock for Zinc at LME was at 51450mt that is down by -125mt.

* BUY ZINC JAN 2020 @ 181.50 SL 180.00 TGT 183.50-185.00.MCX



* Nickel trading range for the day is 1011.4-1033.

* Nickel gained as sentiment was boosted as the signing of an initial trade agreement between China and the US removed some uncertainties for the world economy.

* China's economy expanded at the slowest pace since 1990 as cooling domestic demand and property investment

* China's bank lending decreased more-than-expected in December, data from the People's Bank of China revealed.

* Warehouse stock for Nickel at LME was at 182934mt that is down by -78mt.

* SELL NICKEL JAN 2020 @ 1030.00 SL 1040.00 TGT 1020.00-1010.00.MCX



* Aluminium trading range for the day is 139.9-141.3.

* Aluminium prices gained as the US dollar rebounded on a string of solid data on the US economy.

* China's annual aluminium production fell for the first time in 10 years in 2019 to 35.04 million tonnes on softer demand.

* China's annual aluminium consumption was set to fall for the first time in 30 years in 2019

* Warehouse stock for Aluminium at LME was at 1340725mt that is down by -13150mt.

* BUY ALUMINIUM JAN 2020 @ 139.50 SL 138.50 TGT 140.50-141.50.MCX


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