Buy Aluminium Jul 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 713.7-733.1.
Copper fell as mixed signals from the U.S. Federal Reserve triggered investor jitters about the timing of interest rate increases, which could sap demand for metals.
Copper market in 19,000 tonnes deficit in Mar 2021 – ICSG
China May copper exports hit 14-month peak as traders cash in on LME price jump
Warehouse stock for Copper at LME was at 192975mt that is up by 33175mt.
SELL COPPER JUL 2021 @ 698.00 SL 705.00 TGT 790.00-786.50.MCX
ZINC
Zinc trading range for the day is 231.2-238.6.
Zinc gains as US June Markit PMI for manufacturing industry registered 62.6, boosting the market confidence.
Global zinc market swings to deficit of 26,900 T in April – ILZSG
China May zinc output +1.2% y/y at 527,000 tonnes - stats bureau
Warehouse stock for Zinc at LME was at 258000mt that is down by -600mt.
BUY ZINC JUL 2021 @ 231.00 SL 229.00 TGT 233.00-235.00.MCX
NICKEL
Nickel trading range for the day is 1321.6-1402.6.
Nickel gained as Indonesia is considering a plan to restrict construction of smelters producing nickel pig iron or ferronickel
Support also seen amid strong Chinese demand and near record-low inventories in warehouses tracked by ShFE.
Global nickel deficit narrows slightly in April
Warehouse stock for Nickel at LME was at 234900mt that is down by -918mt.
SELL NICKEL JUL 2021 @ 1300.00 SL 1318.00 TGT 1280.00-1264.00.MCX
ALUMINIUM
Aluminium trading range for the day is 191.2-194.4.
Aluminium remained in range as global investors digested comments from US Federal Reserve officials
Global aluminium output rises to 5.744 mln T in May – IAI
China May alumina output rose 11.2% year-on-year to 6.6 million tonnes - stats bureau
Warehouse stock for Aluminium at LME was at 1609100mt that is down by -7225mt.
BUY ALUMINIUM JUL 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.MCX
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