MENU

Published on 13/06/2018 11:25:34 AM | Source: Kedia Commodity Ltd

Sell Aluminium Jun 2018 @ 157.50 SL 159.00 TGT 156.20-154.50 - Kedia Commodity

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

Copper trading range for the day is 479.9-489.1.

Copper dropped as positive sentiment was tempered by renewed fears of a global trade war amid a lack of consensus at the G7 summit in Canada.

Copper investors "remain cautious, with the continued closure of Vedanta's Tuticorin smelter in India as well as the potential for strike action at Escondida.

Chinese Customs data showed that China imported 475,000 mt of copper products in May, the highest level since December 2016.

Warehouse stock for Copper at LME was at 295725mt that is down by -3775mt. 

SELL COPPER JUN 2018 @ 486.00 SL 490.00 TGT 482.80-478.00.MCX

ZINC

Zinc trading range for the day is 215.5-219.5.

Zinc prices fell as investors awaited news from the U.S. Federal Reserve's policy meeting, at which it is expected to raise interest rates.

Supply of zinc is set to grow in June as smelters underwent maintenance last month are scheduled to resume operations.

China's trade surplus in May narrowed from April and came in at $24.9 billion, smaller than the expected $33.8 billion.

Warehouse stock for Zinc at LME was at 246900mt that is down by -1550mt.

SELL ZINC JUN 2018 @ 218.00 SL 220.00 TGT 215.50-213.00.MCX

NICKEL

Nickel trading range for the day is 1013.7-1044.3.

Nickel settled flat as pressure seen as the dollar index rose after the “truly historic” US-North Korea Summit.

Nickel ore shipments leaving Indonesia during June 10-20 are likely to decline as Ramadan comes to an end.

China's nickel production rose 2.5% month-on-month in May to 12,200 mt, with more working days in May than April.

Warehouse stock for Nickel at LME was at 277986mt that is down by -1134mt.

SELL NICKEL JUN 2018 @ 1035.00 SL 1045.00 TGT 1022.00-1010.00.MCX

ALUMINIUM

Aluminium trading range for the day is 154.7-158.9.

Aluminium dropped on profit booking after prices gained amid reports that a Brazilian court denied an appeal of an injunction limiting production at Norsk Hydro’s refinery.

China's aluminium output for May declined 3.2% on the year and stood at 3.07 million mt.

China's inventory of primary aluminium, including SHFE warrants, shrank 30,000 mt to stand at 1.95 million mt.

Warehouse stock for Aluminium at LME was at 1162650mt that is down by -6325mt.

SELL ALUMINIUM JUN 2018 @ 157.50 SL 159.00 TGT 156.20-154.50.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