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Published on 26/02/2021 1:51:58 PM | Source: Kedia Advisory

SELL COPPER MAR 2021 @ 720.00 SL 728.00 TGT 708.00-698.00.MCX

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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COPPER

* Copper trading range for the day is 706.4-744.

* Copper prices dropped as a rapid rise in bond yields rattled investor sentiment the US dollar index lifted off a seven-week low.

* The global refined copper market showed a 77,000 tonne deficit in November

* World refined copper output in November was 2.12 million tonnes while consumption was 2.20 million tonnes.

* Warehouse stock for Copper at LME was at 78575mt that is down by -1125mt.

SELL COPPER MAR 2021 @ 720.00 SL 728.00 TGT 708.00-698.00.MCX

 

ZINC

* Zinc trading range for the day is 222.1-230.9.

* Zinc prices dropped as 10-year U.S. Treasury yield briefly topped the 1.6% level raising concern for investors across asset classes.

* Fed's chair Jerome Powell told lawmakers it may take more than three years to reach the central bank's inflation goals

* Japan's Jan zinc exports jump 106.3% yr/yr

* Warehouse stock for Zinc at LME was at 270475mt that is down by -50mt.

SELL ZINC MAR 2021 @ 226.00 SL 228.50 TGT 223.50-221.00.MC

 

NICKEL

* Nickel trading range for the day is 1314.7-1474.5.

* Nickel prices dropped after the global nickel market surplus rose to 14,600 tonnes in December

* Norilsk Nickel said it had partially suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia.

* Nickel output in the Philippines, rose 3% last year to 333,962 tonnes

* Warehouse stock for Nickel at LME was at 251058mt that is down by -168mt.

SELL NICKEL MAR 2021 @ 1390.00 SL 1405.00 TGT 1368.00-1354.00.MCX

 

ALUMINIUM

* Aluminium trading range for the day is 173.8-177.6.

* Aluminium gains following reassuring comments from Federal Reserve Chairman Jerome Powell on the inflation outlook.

* The market is confident that the stimulus bill will soon come to the ground, and the market sentiment remains high.

* Data showed that aluminium billet stocks in China built up 25,100 mt from a week ago to 239,300 mt

* Warehouse stock for Aluminium at LME was at 1332525mt that is down by -5175mt.

SELL ALUMINIUM MAR 2021 @ 174.00 SL 176.50 TGT 171.50-169.50

 

 

 

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