Buy Copper Feb BUY COPPER FEB 2021 @ 609.00 SL 605.00 TGT 613.50-616.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 610.3-621.1.
Copper prices advanced as risk sentiment surged on hopes that U.S. President Joe Biden would introduce more economic stimulus into the world's biggest economy
Japan's copper cable sales, domestic and exports, fell 5.3% in December from a year earlier to 53,700 tonnes
China's imports of Australian copper ore crash to zero in December
Warehouse stock for Copper at LME was at 91150mt that is down by -2800mt.
BUY COPPER FEB 2021 @ 609.00 SL 605.00 TGT 613.50-616.00.MCX
ZINC
Zinc trading range for the day is 212.1-218.7.
Zinc dropped on profit booking after prices gained as many enterprises have cut production unexpectedly
The dollar fell as risk appetite held up on optimism about a massive stimulus package under the new Joe Biden administration.
China's refined zinc output stood at 553,500 mt in December, falling 8,800 mt
Warehouse stock for Zinc at LME was at 191875mt that is down by -2325mt.
NICKEL
Nickel trading range for the day is 1327.5-1353.9.
Nickel gained amid expectations that Biden would deploy further economic stimulus to offset damage caused by the COVID-19 pandemic.
Global nickel market surplus rises in November – INSG
Indonesia stays China's second-biggest nickel ore supplier despite export ban
Warehouse stock for Nickel at LME was at 249396mt that is down by -330mt.
BUY NICKEL FEB 2021 @ 1314.00 SL 1304.00 TGT 1328.00-1336.00.MCX
ALUMINIUM
Aluminium trading range for the day is 161.4-164.6.
Aluminium gained as investors' risk appetite improved, optimistic expectations that the US will announce additional fiscal stimulus measures soon
Global primary aluminium output rose in December to 5.67 million tonnes, up 4.22% year on year
China's aluminium imports in December rose 40.5% from the previous month, customs data showed
Warehouse stock for Aluminium at LME was at 1419250mt that is up by 2200mt.
BUY ALUMINIUM FEB 2021 @ 162.60 SL 161.20 TGT 164.00-165.20.MCX
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