Buy Aluminium Sep 2021 @ 212.00 SL 210.00 TGT 214.00-215.50.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 705.3-723.3.
Copper prices gained amid expectations of improving economic growth despite the coronavirus pandemic.
Codelco, boosted its production of the red metal by 2.7% year-on-year in July, to 136,900 tonnes
Unions at Codelco's Andina mine to end strike after reaching labor deal
Warehouse stock for Copper at LME was at 252225mt that is down by -175mt.
BUY COPPER SEP 2021 @ 710.00 SL 705.00 TGT 715.00-718.00.MCX
Zinc
Zinc trading range for the day is 243.9-246.5.
Zinc prices gained as support seen after total zinc inventories across seven Chinese markets stood at 123,600 mt down 2,400 mt
US jobless claims fell 14000 to 340000, the lowest since the breakout of COVID-19, further pulling back US dollar index.
Senator Joe Manchin urged fellow Democrats to pause in their push to enact a $3.5 trillion spending bill.
Warehouse stock for Zinc at LME was at 236225mt that is down by -200mt.
BUY ZINC SEP 2021 @ 243.20 SL 241.50 TGT 245.00-246.50.MCX
Nickel
Nickel trading range for the day is 1414.8-1510.4.
Nickel prices rose supported by solid demand and low inventories across the world.
Philippines' first – half nickel output up 39% y/y
Refined nickel inventories in ShFE warehouses hit a record low of 4,455 tonnes, down 89% from a year earlier.
Warehouse stock for Nickel at LME was at 188676mt that is down by -1812mt.
BUY NICKEL SEP 2021 @ 1434.00 SL 1422.00 TGT 1448.00-1458.00.MCX
Aluminium
Aluminium trading range for the day is 210.7-216.9.
Aluminium prices rose amid growing concern that restrictions on production of the metal in China are causing supply shortages.
China aluminium cuts exceed 2 mln tonnes so far
Aluminium inventories in LME-registered warehouses have fallen from almost 2 million tonnes in March to a little more than 1.3 million tonnes.
Warehouse stock for Aluminium at LME was at 1343425mt that is up by 8125mt.
BUY ALUMINIUM SEP 2021 @ 212.00 SL 210.00 TGT 214.00-215.50.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
