Buy Aluminium Aug 2021 @ 204.00 SL 202.00 TGT 206.50-208.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Copper
Copper trading range for the day is 680.6-712.2.
Copper prices bounced but ended the week with losses due to worries about demand in China, the possible withdrawal of U.S. central bank stimulus
Economic data show growth in China has been slowing in recent months
Worries about economic activity and demand around the world are rising alongside a spike in global coronavirus cases caused by the Delta variant.
Warehouse stock for Copper at LME was at 251450mt that is up by 6325mt
BUY COPPER AUG 2021 @ 680.00 SL 675.00 TGT 686.00-690.00.MCX
Zinc
Zinc trading range for the day is 243.3-249.3.
Zinc gained as China will not auction off strategic metal inventories this month due to a spike in cases
However upside seen limited amid weakening expectations for high season due to COVID19 pandemic and eased power restrictions on the supply side.
Total zinc inventories across seven Chinese markets stood at 128,600 mt up 6,100 mt from August 16 and 4,500 mt from August 13.
Warehouse stock for Zinc at LME was at 232600mt that is up by 4250mt.
BUY ZINC AUG 2021 @ 243.00 SL 214.00 TGT 246.00-248.00.MCX
Nickel
Nickel trading range for the day is 1386.5-1422.9.
Nickel ended with small gains as global nickel market deficit narrowed to 20,100 tonnes in June compared a shortfall of 23,600 tonnes in May
During the first six months of the year, the nickel market saw a deficit of 86,700 tonnes compared with a surplus of 74,200 tonnes in the same period last year
However upside seen limited as market transactions were thin amid weakening stainless steel market sentiment and purchase on-demand by steel companies
Warehouse stock for Nickel at LME was at 198114mt that is down by -372mt.
BUY NICKEL AUG 2021 @ 1390.00 SL 1375.00 TGT 1410.00-1425.00.MCX
Aluminium
Aluminium trading range for the day is 204-208.
Aluminium prices gained as China's aluminium imports in July rose 6.1% from the previous month
China leaves lending benchmark LPR unchanged, as expected
The US monthly meeting minutes showed that Fed officers have agreed to discuss tapering QE within this year.
Warehouse stock for Aluminium at LME was at 1304950mt that is down by -4750mt
BUY ALUMINIUM AUG 2021 @ 204.00 SL 202.00 TGT 206.50-208.00.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
.jpg)
