Buy Aluminium Sep 2021 @ 228.00 SL 226.40 TGT 229.80-230.50.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 694-722.8.
Copper prices dropped as China reiterated plans to release more metals from its reserves.
Chile’s copper commission Cochilco forecast the global copper market to be in a supply deficit of 153,000 tonnes in 2021
Aurubis Stolberg copper products plant to resume some output in Nov
Warehouse stock for Copper at LME was at 239500mt that is down by -1300mt.
BUY COPPER SEP 2021 @ 720.00 SL 714.00 TGT 726.00-730.00.MCX
Zinc
Zinc trading range for the day is 250.8-256.8.
Zinc dropped as the prospect of a debt default at China property developer Evergrande Group fuelled a sell-off across financial markets
China’s zinc output was down 0.6% year on year at 541,000 tonnes
Total zinc inventories across seven Chinese markets stood at 117,200 mt, down 5,800 mt from September 13 and 2,400 mt from September 10.
Warehouse stock for Zinc at LME was at 223950mt that is down by -1625mt.
BUY ZINC SEP 2021 @ 253.00 SL 251.00 TGT 255.00-256.50.MCX
NICKEL
Nickel trading range for the day is 1424.1-1470.1.
Nickel dropped as the dollar rose before the Fed meeting, where policy makers are expected to start laying the groundwork for paring stimulus.
Indonesia considers export tax for products with less than 70% nickel content Market watchers were concerned by ongoing supply constraints of the metal while downstream demand remains resilient
Warehouse stock for Nickel at LME was at 169992mt that is down by -1722mt
BUY NICKEL SEP 2021 @ 1462.00 SL 1445.00 TGT 1484.00-1496.00.MCX
Aluminium
Aluminium trading range for the day is 223-229.2.
Aluminium prices dropped on growing concern about China’s crackdown on the real-estate sector
Global aluminium output drops in August – IAI
China Aug aluminium imports fall 20.7% from prior month
Warehouse stock for Aluminium at LME was at 1326150mt that is down by -1575mt.
BUY ALUMINIUM SEP 2021 @ 228.00 SL 226.40 TGT 229.80-230.50.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
