Published on 19/07/2019 11:05:45 AM | Source: Kedia Commodity Ltd

Buy Zinc Jul 2019 @ 191.00 SL 189.50 TGT 193.00-194.50.MCX - Kedia Commodity

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

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Copper trading range for the day is 444.5-450.1.

Copper prices ended with gains after disappointing US new housing starts data lowered the greenback.

China's top copper smelters lowered their floor treatment and refining charges (TC/RCs) for the third quarter by 24.7%

Copper inventories in LME-registered warehouses climbed to the highest since April 2018, suggesting a better supplied market

Warehouse stock for Copper at LME was at 298025mt that is down by -1575mt.

BUY COPPER JUL 2019 @ 439.00 SL 436.00 TGT 443.00-446.00.MCX


Zinc trading range for the day is 187-199.

Zinc ended with losses as data showed the global zinc market deficit narrowed in May.

The global zinc market deficit narrowed to 27,200 tonnes in May from an upwardly revised deficit of 87,500 tonnes in April.

Summer maintenance at some smelters and bargain-hunting purchases by downstream consumers deterred social inventories from sharply ramping up.

Warehouse stock for Zinc at LME was at 80500mt that is down by -150mt.

BUY ZINC JUL 2019 @ 191.00 SL 189.50 TGT 193.00-194.50.MCX



Nickel trading range for the day is 980.4-1068.2.

Nickel prices ended with gains spurred by a 10% jump in China's stainless steel output in the first half of the year.

Concerns about supply have driven recent gains in nickel prices, Indonesian earthquakes, its potential 2022 export ban on nickel ore.

The WBMS reported that the world nickel market saw a deficit of 57,300 mt in the first five months of the year.

Warehouse stock for Nickel at LME was at 148230mt that is down by -144mt.

BUY NICKEL JUL 2019 @ 905.00 SL 895.00 TGT 920.00-930.00.MCX



Aluminium trading range for the day is 142.4-144.6.

Aluminium prices gained buoyed by upbeat market sentiment and a weaker US dollar.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants.

U.S. aluminium producer Alcoa says global aluminium demand growth for 2019 is estimated to range between 1.25%-2.25%.

Warehouse stock for Aluminium at LME was at 980200mt that is down by -7075mt

BUY ALUMINIUM JUL 2019 @ 142.00 SL 140.50 TGT 143.80-145.20.MCX


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