Buy Zinc Sep 2022 @ 282.00 SL 278.00 TGT 288.00-290.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 645.5-669.7.
Copper gains supported by a pullback in the dollar and hopes for more policy support in top metals consumer China.
Chile copper exports total $3.27 bln in August
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.0 % from last Friday
Warehouse stock for Copper at LME was at 105450mt that is up by 2725mt.
BUY COPPER SEP 2022 @ 648.00 SL 644.00 TGT 655.00-658.00.MCX
ZINC
Zinc trading range for the day is 277-295.8.
Zinc gained as China's refined zinc output stood at 462,700 mt in August, down 13,200 mt or 2.77% on the month
China's refined zinc output is expected to increase by 62,900 mt to 525,700 mt in September
The total zinc ingot stocks across seven major markets in China stood at 96,800 mt as of September 9, down 24,900 mt week-on-week
Warehouse stock for Zinc at LME was at 77025mt that is down by -250mt.
BUY ZINC SEP 2022 @ 282.00 SL 278.00 TGT 288.00-290.00.MCX
NICKEl
Nickel trading range for the day is 622.7-622.7.
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 53556mt that is down by -294mt.
SELL NICKEL SEP 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 195.6-206.2.
Aluminium remained supported amid a weaker dollar and lower-than-expected inflation numbers from China, easing worries about falling demand.
China's producer price inflation eased to an 18-month low of 2.3 percent yoy in August 2022 from 4.2 percent in the prior month
China's annual inflation rate fell to 2.5% in August 2022 from July's 2-year high of 2.7%
Warehouse stock for Aluminium at LME was at 335275mt that is up by 26250mt.
BUY ALUMINIUM SEP 2022 @ 197.00 SL 194.00 TGT 202.00-205.00.MCX
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