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Published on 15/11/2019 11:50:11 AM | Source: Kedia Commodity Ltd

Sell Copper Nov 2019 @ 442.00 SL 445.00 TGT 438.50-436.50.MCX - Kedia Commodity

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

 

Copper

* Copper trading range for the day is 434.2-443.

* Copper dropped as investors eschewed risk amid waned optimism around US-China trade deal and disappointing factory output data from China.

* The bleak data coupled with uncertainty over the prospects of an interim trade deal between Washington and Beijing limited gains.

* Copper inventories in LME-approved warehouses  fell to a five-month low of 224,425 tonnes, latest data showed.

* Warehouse stock for Copper at LME was at 221725mt that is down by -2700mt.

* SELL COPPER NOV 2019 @ 442.00 SL 445.00 TGT 438.50-436.50.MCX

 

Zinc

* Zinc trading range for the day is 190.9-195.5.

* Zinc prices traded in range amid downbeat economic data, expanding supply and weakening demand.

* Hidden zinc inventories are helping to keep stocks low in exchange-approved warehouses and prop up prices, but increasing production is due to hit the market

* Data showed that about 529,300 mt of refined zinc was produced across China last month, up 2.64% from September and 15.24% from October 2018.

* Warehouse stock for Zinc at LME was at 52600mt that is down by -650mt.

* SELL ZINC NOV 2019 @ 194.50 SL 196.00 TGT 193.00-191.50.MCX

 

Nickel

* Nickel trading range for the day is 1100.1-1157.7.

* Nickel dropped as disappointing Chinese economic data and doubts over US-China trade negotiations dented risk appetite.

* Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations

* China’s production of refined nickel grew 1.5% from September to 13,500 mt in October, as a smelter in Gansu stepped up operations.

* Warehouse stock for Nickel at LME was at 64176mt that is down by -18mt.

* SELL NICKEL NOV 2019 @ 1150.00 SL 1160.00 TGT 1135.00-1122.00.MCX

 

Aluminium

* Aluminium trading range for the day is 130.4-134.

* Aluminium dropped as disappointing Chinese economic data and doubts over US-China trade negotiations dented risk appetite.

* Official data showed that Chinese retail sales, industrial output and investment data all came in weaker than expected.

* China's aluminium production fell 1.8% in October to 2.88 million tonnes from a year earlier, official data showed.

* Warehouse stock for Aluminium at LME was at 1020975mt that is up by 75075mt.

* BUY ALUMINIUM NOV 2019 @ 133.00 SL 132.00 TGT 134.00-135.00.MCX

 

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