Buy Aluminium Jun 2022 @ 230.00 SL 227.00 TGT 236.00-238.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 766.2-787.4.
Copper prices gains as optimism about Shanghai coming out of lockdown supported prices while lingering concerns over a global economic slowdown limited upside.
China's factories struggled in May with the official manufacturing managers index showing contraction for a third month.
Blaze at Peru's Las Bambas copper mine as tension rises
Warehouse stock for Copper at LME was at 145950mt that is down by -3250mt.
BUY COPPER JUN 2022 @ 773.00 SL 768.00 TGT 779.00-784.00.MCX
ZINC
Zinc trading range for the day is 325.7-337.3.
Zinc prices dropped as the US dollar index rebounded, while domestic demand failed to pick up significantly as of now.
LME zinc inventory fell by 1,100 mt, warehouse in Singapore contributing the highest decrease
China a net exporter of zinc for the first time since 2014
Warehouse stock for Zinc at LME was at 83575mt that is down by -1100mt.
BUY ZINC JUN 2022 @ 327.00 SL 323.00 TGT 332.00-336.00.MCX
NICKEL
Nickel trading range for the day is 768-768.
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 71472mt that is down by -246mt.
SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 225.8-240.2.
Aluminium prices dropped as China's factory activity falls at slower pace on easing curbs
Asia's factory activity slows in May as China COVID curbs weigh
Manufacturing growth in the euro zone slowed last month as factories faced supply shortages, high prices and a fall in demand
BUY ALUMINIUM JUN 2022 @ 230.00 SL 227.00 TGT 236.00-238.00.MCX
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