Buy Zinc Dec 2022 @ 267.00 SL 264.00 TGT 272.00-275.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 669.2-696.2.
Copper rose as measures to stimulate construction and industrial activity coincided with looming supply concerns.
PBoC cut its reserve ratio by 25bps after rapidly increasing covid cases drove the government to trigger strict lockdowns and business curbs.
Chile copper output up 2.2% in October; industrial output drops 9.2%
Warehouse stock for Copper at LME was at 89700mt that is down by -1200mt.
BUY COPPER DEC 2022 @ 680.00 SL 675.00 TGT 685.00-690.00.MCX
Zinc
Zinc trading range for the day is 259.7-276.5.
Zinc rose as investors' mood improved amid hopes that China could soon relax some covid restrictions.
China announced measures to boost elderly vaccination while covid cases fell for the first time in more than a week.
Global zinc market deficit rises to 103,000 T in September – ILZSG
Warehouse stock for Zinc at LME was at 41300mt that is down by -125mt
BUY ZINC DEC 2022 @ 267.00 SL 264.00 TGT 272.00-275.00.MCX
NICKEL
Nickel trading range for the day is 748.9-748.9.
Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
Global nickel market sees surplus in February – INSG
Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphate plants may contract.
Warehouse stock for Nickel at LME was at 52122mt that is down by -48mt.
SELL NICKEL DEC 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 204-215.6.
Aluminum prices rose as hopes grew that Beijing would loosen its strict COVID-19 restrictions.
China's factory activity contracted at a faster pace in November, an official survey showed.
LME Inventories were down 14.2% from 587,100 tonnes on Oct. 26.
Warehouse stock for Aluminium at LME was at 501225mt that is down by -1925mt.
BUY ALUMINIUM DEC 2022 @ 209.00 SL 206.00 TGT 213.00-215.00.MCX
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