Published on 12/10/2018 10:18:45 AM | Source: Kedia Commodity Ltd

Sell Zinc Oct 2018 @ 198.00 SL 200.00 TGT 195.50-192.80 - Kedia Commodity

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


Copper trading range for the day is 442.1-470.1.

Copper remained under pressure tracking a broad sell-off on equity markets as a gloomy macro-economic outlook raised concerns over demand growth.

BHP, expects a plant at its Olympic Dam mine to restart this month following repairs.

The International Monetary Fund cut China's 2019 growth forecast to 6.2 percent from 6.4 percent, leaving the 2018 forecast unchanged at 6.6 percent.

Warehouse stock for Copper at LME was at 170100mt that is down by -3400mt

SELL COPPER NOV 2018 @ 461.00 SL 464.00 TGT 457.00-462.00.MCX



Zinc trading range for the day is 191.5-200.7.

Zinc settled flat recovered from lows as prices received some support from declines in LME inventories

Zinc inventories in LME-registered warehouses fell below 200,000 tonnes from more than 250,000 tonnes in August and are nearing 10-year lows.

Stockpiles in Shanghai Futures Exchange storehouses at 29,204 tonnes are the smallest since 2007.

Warehouse stock for Zinc at LME was at 191500mt that is down by -3075mt.

SELL ZINC OCT 2018 @ 198.00 SL 200.00 TGT 195.50-192.80.MCX



Nickel trading range for the day is 907.3-956.5.

Nickel dropped as investors feared an escalating U.S. trade war with China and risks from a recent climb in interest rates.

The International Monetary Fund also reduced its global economic growth forecasts for 2018 and 2019 to 3.7 percent from a July forecast of 3.9 percent for both years.

US producer prices increased 0.2% in September, reversing an unexpected decline of 0.1% in August.

Warehouse stock for Nickel at LME was at 224928mt that is down by -600mt.

SELL NICKEL OCT 2018 @ 945.00 SL 955.00 TGT 936.00-926.00.MCX



Aluminium trading range for the day is 148.3-152.5.

Aluminium dropped after Norsk Hydro said it would resume half production at its giant Brazilian alumina plant, just days after declaring it would shut down completely.

Chinese aluminium exports are expected to surge in coming months and next year after Beijing boosted tax rebates as part of a package to soften the impact of trade war.

Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there.

Warehouse stock for Aluminium at LME was at 941500mt that is down by -6925mt.

SELL ALUMINIUM OCT 2018 @ 151.00 SL 153.50 TGT 149.20-147.50.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