Buy Nickel Jan 2022 @ 1554.00 SL 1542.00 TGT 1568.00-1576.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 734.9-758.9.
Copper gained propped up by an economic rebound in top consumer China and supply concerns.
The Las Bambas copper mine in Peru said it would restart operations after reaching a deal with protesters blocking a road to the mine.
Chile's copper production down 1.6% in November; manufacturing output rises
Warehouse stock for Copper at LME was at 88950mt that is down by -425mt.
BUY COPPER JAN 2022 @ 742.00 SL 736.00 TGT 748.00-750.00.MCX
ZINC
Zinc trading range for the day is 283.4-291.4.
Zinc settled flat paring all gains seen earlier supported by tight supply and increasing demand.
Some galvanising and zinc oxide plants in north China was restricted by the upcoming Winter Olympics
PBOC has injected a net CNY 600 billion into the banking system at the end of December, the largest weekly injection since the late of Octobe
Warehouse stock for Zinc at LME was at 199575mt that is down by -175mt.
BUY ZINC JAN 2022 @ 287.00 SL 285.00 TGT 289.00-290.80.MCX
NICKEL
Nickel trading range for the day is 1549.2-1584.2.
Nickel prices rose as support seen after China’s December official manufacturing and nonmanufacturing PMI readings topped estimate
The currently low pure nickel inventory also offered some support to nickel prices
The nickel ore inventory at Chinese ports dipped 65,000 wmt from a week earlier to 8.59 million wmt as of December 3
Warehouse stock for Nickel at LME was at 101886mt that is down by -1134mt.
BUY NICKEL JAN 2022 @ 1554.00 SL 1542.00 TGT 1568.00-1576.00.MCX
ALUMINIUM
Aluminium trading range for the day is 222.9-227.1.
Aluminium dropped as the market transactions continued to drop at the end of the year after prices seen supported driven by tight supply
Two smelters cut production due to high power prices, fuelling concerns about potential shortages.
Factory activity in China, the biggest metals consumer, likely neither grew nor shrank in December.
Warehouse stock for Aluminium at LME was at 939200mt that is down by -4300mt.
BUY ALUMINIUM JAN 2022 @ 225.00 SL 223.00 TGT 227.40-229.00.MCX
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