Buy Aluminium Sep 2022 @ 197.00 SL 194.00 TGT 202.00-205.00.MCX -Kedia Advisory
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COPPER
Copper trading range for the day is 635.8-662.8.
Copper prices rose as potential disruptions in producing countries raised worries of shortage of supply for the metal.
Workers at BHP's Escondida, threatened to go on strike over what they described as safety concerns
The global refined copper market showed a 66,000 tonne deficit in June, compared with a 30,000 tonne deficit in May
Warehouse stock for Copper at LME was at 102725mt that is down by -575mt.
BUY COPPER SEP 2022 @ 648.00 SL 644.00 TGT 655.00-658.00.MCX
ZINC
Zinc trading range for the day is 279.2-287.4.
Zinc prices gained support from linger pressure from overseas energy crisis on smelting activities
Support also seen as the social inventory dropped palpably amid relatively robust market transactions.
China foreign exchange reserves at near 4-year low
Warehouse stock for Zinc at LME was at 77275mt that is down by -75mt.
BUY ZINC SEP 2022 @ 280.00 SL 277.00 TGT 286.00-290.00.MCX
NICKEL
Nickel trading range for the day is 599.7-599.7.
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 53850mt that is down by -390mt.
SELL NICKEL SEP 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 197.7-201.5.
Aluminum gains as Germany's Speira to axe 50% of its aluminium output
European smelters are estimated to have cut an annualised 800,000 to 900,000 tonnes of aluminium production since energy prices began to rise last year
China exported 540,448.9 tonnes of unwrought aluminium and aluminium products in August, up 10.2% from last month.
Warehouse stock for Aluminium at LME was at 309025mt that is down by -475mt.
BUY ALUMINIUM SEP 2022 @ 197.00 SL 194.00 TGT 202.00-205.00.MCX
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