320-x-100_uti_gold.jpg" alt="Advertisement">
Buy Aluminium Aug 2022 @ 205.00 SL 202.00 TGT 210.00-212.00.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 634.5-653.1.
Copper settled flat as investors weighed lingering economic concerns and heightened geopolitical tensions against ongoing supply challenges.
Hopes for a rebound in demand and more stimulus from top importer China also helped sentiment.
Chile's copper production from state-owned giant Codelco fell 14.3% in June to reach 129,900 tonnes
Warehouse stock for Copper at LME was at 130250mt that is down by -725mt.
SELL COPPER AUG 2022 @ 646.00 SL 654.00 TGT 638.00-635.00.MCX
ZINC
Zinc trading range for the day is 288.3-299.3.
Zinc prices rose amid hopes of slowing interest rate hike and China's stimulus have supported.
LME inventory continued to fall last week, with the latest data recording at 69,725 mt, the lowest level in more than two years
The Caixin China General Services PMI fell to 54.0 in July 2022 from June's 18-month peak of 55.3.
Warehouse stock for Zinc at LME was at 66925mt that is down by -1125mt.
BUY ZINC AUG 2022 @ 290.00 SL 287.00 TGT 296.00-299.00.MCX
NICKEL
Nickel trading range for the day is 649.7-649.7.
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 57900mt that is down by -42mt.
SELL NICKEL AUG 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 205.4-211.4.
Aluminium settled down as risk aversion sentiment rose amid geopolitical tensions.
China private sector growth stays robust
China, aluminium ingot inventories have shown a trend of accumulation this week.
Warehouse stock for Aluminium at LME was at 294550mt that is down by -2100mt.
BUY ALUMINIUM AUG 2022 @ 205.00 SL 202.00 TGT 210.00-212.00.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
