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Published on 12/07/2018 11:21:19 AM | Source: Kedia Commodity Ltd

Sell Aluminium Jul 2018 @ 143.00 SL 144.80 TGT 141.20-140.00 - Kedia Commodity

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

COPPER

Copper trading range for the day is 409.1-435.5.

Copper dropped in a broad selloff after the United States raised the stakes in a trade war with China with threats of more tariffs.

The tariffs will not go into effect immediately, but will undergo a two-month review process, with hearings on August 20-23.

The Indonesian government is expected to announce the details of a deal to acquire a majority stake in the local unit of U.S. copper miner Freeport McMoRan Inc.

Warehouse stock for Copper at LME was at 265475mt that is down by -5150mt.

SELL COPPER AUG 2018 @ 424.00 SL 427.50 TGT 420.50-416.00.MCX

ZINC

Zinc trading range for the day is 170.3-183.7.

Zinc dropped with the threat of further tit-for-tat tariffs between the United States and China exacerbating concerns about demand for metals.

Imported zinc is set to impact consumption of domestic brands, as downstream buyers favoured cheaper imports.

Visible zinc inventories across LME warehouses stood at 250,000 mt

Warehouse stock for Zinc at LME was at 249200mt that is down by -600mt.

SELL ZINC JUL 2018 @ 180.00 SL 183.00 TGT 176.80-173.50.MCX

NICKEL

Nickel trading range for the day is 919.8-987.6.

Nickel prices dropped as ongoing uncertainty around Sino-US trade relations hampers the prices.

The Philippines' nickel ore exports could drop by up to 17 percent this year as weaker prices curb output in the world's second-biggest supplier.

Philippine President Rodrigo Duterte warned he would soon halt mining in the Southeast Asian nation because of the environmental damage it has caused.

Warehouse stock for Nickel at LME was at 263220mt that is down by -774mt.

SELL NICKEL JUL 2018 @ 970.00 SL 990.00 TGT 956.00-932.00.MCX

ALUMINIUM

Aluminium trading range for the day is 140.1-144.5.

Aluminium remained under pressure from fears of an escalation in the U.S.-China trade war.

Aluminium buyers in south China were keen to purchase at low prices in the falling market

China's inventory of primary aluminium across eight major markets, including SHFE warrants, fell 6,000 mt over the weekend.

Warehouse stock for Aluminium at LME was at 1120525mt that is up by 3975mt.

SELL ALUMINIUM JUL 2018 @ 143.00 SL 144.80 TGT 141.20-140.00.MCX

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