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Buy Aluminium Mar 2022 @ 310.00 SL 302.00 TGT 322.00-328.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 783.8-915.8.
Copper prices rallied to all time high amid lingering worries of supply disruptions and historically low inventories.
Chile copper export $3.8 bln in February, down 9.2%
China Jan – Feb unwrought copper imports at 969,000 tonnes – customs
Warehouse stock for Copper at LME was at 69825mt that is down by -1550mt.
BUY COPPER MAR 2022 @ 840.00 SL 824.00 TGT 858.00-870.00.MCX
ZINC
Zinc trading range for the day is 315.9-363.7.
Zinc prices rose as the market was in deep concern over supply shortage in the Europe.
The constantly rising electricity prices have greatly increased the production costs of smelters, which may endanger the supply in Europe.
The inventory across seven regions in China added 2,800 mt from last Friday to 287,000 mt.
Warehouse stock for Zinc at LME was at 142550mt that is down by -175mt.
BUY ZINC MAR 2022 @ 332.00 SL 324.00 TGT 342.00-348.00.MCX
NICKEL
Nickel trading range for the day is 1800.2-4832.2.
Nickel prices rocketed above 70% as fears of major disruptions to supplies due to financial sanctions on Russia fuelled a buying frenzy.
Nickel stocks in LME-registered warehouses have dropped almost 70% since April last year to 83,328 tonnes.
US and European allies exploring the idea of banning imports of Russian oil have also spooked metals markets, which are up across the board.
Warehouse stock for Nickel at LME was at 77082mt that is down by -702mt.
BUY NICKEL MAR 2022 @ 2400.00 SL 2300.00 TGT 2540.00-2620.00.MCX
ALUMINIUM
Aluminium trading range for the day is 270.2-340.8.
Aluminium dropped on profit booking after prices rallied as Western sanctions against Russia sparked concerns over the metal supply.
Adding to supply fears are falling metal inventories in LME-registered warehouses.
Aluminium stocks, at 794,150 tonnes, are down from almost 2 million tonnes last March.
Warehouse stock for Aluminium at LME was at 794150mt that is down by -6950mt.
BUY ALUMINIUM MAR 2022 @ 310.00 SL 302.00 TGT 322.00-328.00.MCX
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