Sell Nickel Dec 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 666.3-685.7.
Copper prices settled flat as rising COVID-19 cases in China tempered hopes that demand in the world's biggest metals consumer will soon improve.
There were hopes that China will ease its economically damaging zero-COVID policy and U.S. interest rates will rise less than feared.
China copper demand to rise on surging EV output, power investment
Warehouse stock for Copper at LME was at 91525mt that is down by -350mt
BUY COPPER DEC 2022 @ 670.00 SL 665.00 TGT 678.00-684.00.MCX
ZINC
Zinc trading range for the day is 260.9-266.5.
Zinc remained in range with rising COVID-19 cases in China weighing on sentiment
Risk assets had been under pressure as China is battling numerous COVID flare-ups,
fanning concerns about the impact on global growth Data showed that the China refined zinc output in October fell slightly short of expectation and stood at 514,100 mt, up 2.02%
Warehouse stock for Zinc at LME was at 41975mt that is down by -100mt.
BUY ZINC DEC 2022 @ 260.00 SL 257.00 TGT 264.00-267.00.MCX
NICKEL
Nickel trading range for the day is 728.7-728.7.
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 50778mt that is up by 978mt.
SELL NICKEL DEC 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 206.4-214.2.
Aluminum dropped as signs of weaker demand and a rebound for the US dollar outweighed looming concerns of supply shortages.
Global aluminium output rises 3.1% y/y in October
IAI Japan aluminium stocks down marginally m/m in October
Warehouse stock for Aluminium at LME was at 513275mt that is down by -3800mt.
BUY ALUMINIUM DEC 2022 @ 206.00 SL 203.00 TGT 210.00-212.00.MCX
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