Buy Aluminium Nov 2021 @ 220.00 SL 216.00 TGT 225.00-227.50.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 724.7-748.9.
Copper prices rose buoyed by strong Chinese exports data, improving jobs market in the United States and low inventories of the metal.
China's copper imports rise in October for a second month
Unwrought copper, product imports 410,541 T vs 406,016 T in Sept
Warehouse stock for Copper at LME was at 115525mt that is down by -7075mt.
BUY COPPER NOV 2021 @ 745.00 SL 742.00 TGT 749.00-753.00.MCX
ZINC
Zinc trading range for the day is 266.9-285.5.
Zinc gains as support seen after the zinc concentrate supply in Inner Mongolia tightened further due to power rationing.
While the production
China refined zinc output down 12,600 mt in October, likely to increase in November and December
Warehouse stock for Zinc at LME was at 191700mt that is down by -1050mt.
BUY ZINC NOV 2021 @ 282.50 SL 280.00 TGT 285.00-287.00.MCX
NICKEL
Nickel trading range for the day is 1463.6-1540.
Nickel gains as the new energy sector kept creating demand for nickel, and nickel sulphate prices stayed congested
Nickel output from the Philippines is expected to be 10% lower than the annual average due to frequent rainfalls and fewer vessels coming in.
In terms of stainless steel, an integrated stainless steel mill in south China officially resumed production, bringing more demand for NPI.
In terms of stainless steel, an integrated stainless steel mill in south China officially resumed production, bringing more demand for NPI.
BUY NICKEL NOV 2021 @ 1512.00 SL 1496.00 TGT 1532.00-1544.00.MCX
ALUMINIUM
Aluminium trading range for the day is 199.6-212.2.
Aluminium gains as investors cheered the passage of a more than $1 trillion infrastructure bill in the House and awaited fresh inflation readings.
Expectations that Russia will remove taxes on aluminium exports and boost global supplies have triggered an inventory sell-of
Aluminium smelting is an energy-intensive process and China is the world's biggest producer of the metal.
BUY ALUMINIUM NOV 2021 @ 220.00 SL 216.00 TGT 225.00-227.50.MCX
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