Buy Aluminium Oct 2021 @ 227.60 SL 225.50 TGT 230.00-231.50.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 702.8-723.
Copper prices fell on a firmer dollar, but trade was tepid as markets in top consumer China were closed for a public holiday
Chile's top miners see copper production fall in August
Global copper smelting activity rebounded in September as higher treatment charges spurred many smelters to increase output
Warehouse stock for Copper at LME was at 212125mt that is down by -4600mt.
BUY COPPER OCT 2021 @ 706.00 SL 702.00 TGT 714.00-716.50.MCX
ZINC
Zinc trading range for the day is 253.5-261.1.
Zinc prices gained as support seen after Japan's Mitsui Mining expects 2.2% drop in H2 zinc output
Japan's Toho Zinc plans 1.9% increase in H2 zinc output
Total zinc inventories across seven Chinese markets stood at 119,800 mt as of September 30, down 11,500 mt from September 27
Warehouse stock for Zinc at LME was at 201625mt that is down by -1825mt.
BUY ZINC OCT 2021 @ 252.00 SL 250.00 TGT 254.00-255.60.MCX
NICKEL
Nickel trading range for the day is 1372.3-1426.1.
Nickel gained Vale halting output at its Onça Puma operation in Brazil.
However upside seen limited amid easing tightness in nearby inventories
Worries over defaults at Chinese property developers and the potential impact on metals demand grew, amid fresh credit rating downgrades
Warehouse stock for Nickel at LME was at 154440mt that is down by -804mt
BUY NICKEL OCT 2021 @ 1382.00 SL 1368.00 TGT 1400.00-1414.00.MCX
ALUMINIUM
Aluminium trading range for the day is 230.8-235.2.
Aluminium prices gains boosted by strong demand and large shortages
A widespread power shortage in China has raised concerns of slower growth and demand
Japan Q4 aluminium premium climbs by 19% to $220/T
Warehouse stock for Aluminium at LME was at 1211975mt that is down by -6800mt.
BUY ALUMINIUM OCT 2021 @ 227.60 SL 225.50 TGT 230.00-231.50.MCX
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