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Published on 22/09/2020 1:35:33 PM | Source: Kedia Advisory

Buy Copper Sep 2020 @ 535.00 SL 531.00 TGT 539.00-542.00.MCX - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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COPPER

Copper trading range for the day is 509.9-547.3.

Copper prices pared gains as investor’s awaited developments on U.S. fiscal stimulus and

China August refined copper output rises month-on-month

The US current-account deficit, widened sharply in the second quarter

Warehouse stock for Copper at LME was at 78425mt that is down by -475mt.

BUY COPPER SEP 2020 @ 535.00 SL 531.00 TGT 539.00-542.00.MCX

 

ZINC

Zinc trading range for the day is 186.7-200.5.

Zinc prices dropped as rising virus infection rates in Europe prompted renewed lockdown measures in some countries while a lack of U.S. stimulus weighed.

Treatment charges (TCs) for both domestic and imported zinc concentrate declined, suggesting a tight supply of raw materials.

The global economy appears to be recovering from the coronavirus slump faster than thought only a few months ago

Warehouse stock for Zinc at LME was at 219325mt that is down by -200mt.

SELL ZINC SEP 2020 @ 193.50 SL 194.50 TGT 192.00-190.50.MCX

 

NICKEL

Nickel trading range for the day is 1018.3-1121.7.

Nickel prices dropped as COVID-19 cases surged, threatening to curb economic activity and metals demand.

Nickel ore inventories across all Chinese ports increased 43,000 wmt from September 11 to 8.95 million wmt

China's refined nickel output declined 2.25% or 330 mt from July, but rose 12.94% from a year earlier, to 14,300 mt in August.

Warehouse stock for Nickel at LME was at 236502mt that is down by -24mt.

SELL NICKEL SEP 2020 @ 1096.00 SL 1108.00 TGT 1084.00-1078.00.MCX

 

ALUMINIUM

Aluminium trading range for the day is 140.8-146.

Aluminium prices dropped as pressure seen after China Hongqiao kicks off aluminium production in Yunnan

China’s primary aluminium output rose 6.13% year on year to 3.19 million mt in August, showed survey.

The University of Michigan said the preliminary reading of its US consumer sentiment index in September was 78.9

Warehouse stock for Aluminium at LME was at 1499100mt that is down by -5075mt

BUY ALUMINIUM SEP 2020 @ 144.00 SL 142.50 TGT 145.50-146.20.MCX

 

 

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