Buy Aluminium Jun 2022 @ 233.00 SL 230.00 TGT 238.00-242.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 779.2-799.4.
Copper prices eased weighed down by a stronger dollar, global slowdown concerns and doubts about a demand recovery in top metals consumer China.
Parts of Shanghai began imposing new lockdown restrictions
China May copper imports up 4.4% on year as lockdowns ease
Warehouse stock for Copper at LME was at 118175mt that is up by 1275mt.
BUY COPPER JUN 2022 @ 784.00 SL 778.00 TGT 790.00-798.00.MCX
ZINC
Zinc trading range for the day is 318.7-333.9.
Zinc prices dropped amid slowing demand and rising output.
China's exports grew at a double-digit pace in May, shattering expectations, while imports expanded for the first time in three months
OECD slashes growth outlook, but sees limited stagflation risk
Warehouse stock for Zinc at LME was at 84800mt that is down by -1350mt.
BUY ZINC JUN 2022 @ 323.00 SL 318.00 TGT 329.00-332.00.MCX
NICKEL
Nickel trading range for the day is 766-766.
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 70782mt that is down by -210mt.
SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 228.1-242.3.
Aluminium dropped as the market was challenged by rising supply of spot goods after the new capacities started to yield output
China’s aluminium output rose 3.6% YoY in May, indicating that the supply side pressure still exists
China exported 676,605 tonnes of unwrought aluminium and products last month, the data also showed, the highest volume in at least nine years.
Warehouse stock for Aluminium at LME was at 430050mt that is down by -3950mt.
BUY ALUMINIUM JUN 2022 @ 233.00 SL 230.00 TGT 238.00-242.00.MCX
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