Buy Aluminium May 2022 @ 230.00 SL 227.00 TGT 235.00-240.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
COPPER
Copper trading range for the day is 746.7-767.1.
Copper rose as signs of lower domestic COVID-19 infections in China lifted sentiment.
China's factory-gate inflation eased to a one-year low in April, giving policymakers headroom for more stimulus to shore up a flagging economy.
China's April copper cathode output fell on both a monthly and annual basis
Warehouse stock for Copper at LME was at 175875mt that is up by 8050mt.
BUY COPPER MAY 2022 @ 750.00 SL 745.00 TGT 758.00-765.00.MCX
ZINC
Zinc trading range for the day is 306.5-325.1.
Zinc prices buoyed by shortages and low stocks in London Metal Exchange-approved warehouses
Support also seen on worries about supplies, particularly in Europe where record-high power prices have triggered production cuts.
But slowing growth and demand in top consumer China are expected to weigh on the metal used to galvanise steel.
Warehouse stock for Zinc at LME was at 88475mt that is down by -825mt.
BUY ZINC MAY 2022 @ 312.00 SL 309.00 TGT 318.00-322.00.MCX
NICKEL
Nickel trading range for the day is 2211-2211.
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 72828mt that is down by -294mt.
SELL NICKEL MAY 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 230.3-236.1.
Aluminium rose as signs of lower domestic COVID-19 infections in China lifted sentiment
Although demand outlook remained weak due to worries over the prospect of global economic slowdown.
China's factory-gate inflation eased to a one-year low in April, giving policymakers headroom for more stimulus to shore up a flagging economy
Warehouse stock for Aluminium at LME was at 553925mt that is down by -6350mt.
BUY ALUMINIUM MAY 2022 @ 230.00 SL 227.00 TGT 235.00-240.00.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
