Buy Aluminum JAN 2023 @ 207.00 SL 204.00 TGT 211.00-213.00.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 735.9-762.3.
Copper prices rallied supported by expectations of stronger demand and looming supplyconcerns.
Chinese authorities reopened mainland borders with Hong Kong and relaxed quarantine,further moving away from its strict zero Covid policy
On the supply side, production in top producer Chile fell nearly 7% year-on-year inNovember
Warehouse stock for Copper at LME was at 85150mt that is down by -1250mt.
BUY COPPER JAN 2023 @ 745.00 SL 740.00 TGT 754.00-760.00.MCX
Zinc
Zinc trading range for the day is 266.8-292.8.
Zinc prices gained as China’s continued reopening bolstered the economic outlook.
China’s economic growth will quickly rebound and return to its “normal” path as thegovernment provides more financial support to household
Support also seen after softer-than-expected US data tempered expectations that theFederal Reserve will continue to raise interest rates aggressively.
Warehouse stock for Zinc at LME was at 22850mt that is down by -1450mt.
BUY ZINC JAN 2023 @ 275.00 SL 272.00 TGT 280.00-284.00.MCX
Nickel
Nickel trading range for the day is 2450-2450.
Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at410,000 in 2022
Global nickel market sees surplus in February – INSG
Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphateplants may contract.
Warehouse stock for Nickel at LME was at 54528mt that is down by -270mt.
SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
Aluminium
Aluminium trading range for the day is 203.3-215.7.
Aluminum prices rose amid optimism over demand after top consumer China reopened itsborders
China produced 3.44 million mt of aluminium in December 2022, up 8.3% on the year.
The power rationing in south-west China dragged down the domestic operating aluminiumcapacity
Warehouse stock for Aluminium at LME was at 422075mt that is up by 3400mt.
BUY ALUMINIUM JAN 2023 @ 207.00 SL 204.00 TGT 211.00-213.00.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
