Buy Aluminium Apr 2022 @ 282.00 SL 278.00 TGT 286.00-290.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 812.2-834.8.
Copper rose boosted by a weaker dollar and optimism regarding a ceasefire in Ukraine despite demand concerns from China.
China copper smelters raise Q2 treatment charge floor as supply eases
The world’s largest copper producer Codelco said it would start drilling in the Salar de Maricunga by late March
Warehouse stock for Copper at LME was at 87925mt that is up by 6425mt.
BUY COPPER APR 2022 @ 816.00 SL 810.00 TGT 824.00-830.00.MCX
ZINC
Zinc trading range for the day is 332.3-350.9.
Zinc gains as prices are getting boost from the energy crisis on the back of the Russian invasion of Ukraine
Fitch solutions raises 2022 zinc price forecast to $3,500/t
Zinc ingot output is expected to fall 10,000 mt in March because some smelters suspended the production
Warehouse stock for Zinc at LME was at 142100mt that is down by -150mt.
SELL ZINC APR 2022 @ 342.00 SL 438.00 TGT 346.00-348.50.MCX
NICKEL
Nickel trading range for the day is 2425.2-2523.2.
Nickel gained as the supply and demand have been both impacted by the spreading COVID
Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
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 72630mt that is down by -186mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 279.4-291.2.
Aluminium rose as Ukraine and its Western allies warned that a Russian military pullback was a ploy to refit troops and the dollar weakened.
Investors were balancing hopes of de-escalation and concerns that COVID-19 outbreaks could reduce Chinese demand with fears of further sanctions
COVID-19 control measures are closing some factories in China, the biggest metals consumer.
Warehouse stock for Aluminium at LME was at 654475mt that is down by -8750mt.
BUY ALUMINIUM APR 2022 @ 282.00 SL 278.00 TGT 286.00-290.00.MCX
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