Buy Copper Apr 2022 @ 830.00 SL 824.00 TGT 836.00-840.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 811.1-840.7.
Copper dropped as downstream demand has been suppressed by spreading pandemic in China
China's Zijin to stop copper smelter in Serbia for overhaul
Kazakhstan's January-February refined copper output fell 3.1% year on year.
Warehouse stock for Copper at LME was at 80675mt that is up by 700mt.
BUY COPPER APR 2022 @ 830.00 SL 824.00 TGT 836.00-840.00.MCX
ZINC
Zinc trading range for the day is 322.8-353.6.
Zinc dropped on profit booking as SHFE zinc inventory continued to rise, setting a new high in nearly five years.
The terminal consumption has been suppressed by high zinc futures prices, and downstream orders are still waiting for the pivot.
Kazakhstan's January-February production of refined zinc was down 2.9%, data from the statistics bureau showed
Warehouse stock for Zinc at LME was at 142950mt that is down by -225mt.
BUY ZINC APR 2022 @ 344.00 SL 340.00 TGT 348.00-350.50.MCX
NICKEL
Nickel trading range for the day is 2189-2670.2.
Nickel prices climbed as disruptions from the Russia-Ukraine conflict and higher energy costs triggered concerns over global supply
LME nickel surged 15% to hit its upper trading limit, reversing direction and climbing for the first time since trading resumed last week.
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 73074mt that is down by -168mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 277.4-310.6.
Aluminium dropped as rising coronavirus cases in China clouded growth outlook for the top metals consumer
China Jan – Feb aluminium imports fall 26.2% on year
Germany-based TRIMET will over coming weeks cut aluminium production at its Essen facility by 50%
Warehouse stock for Aluminium at LME was at 684250mt that is down by -5325mt.
BUY ALUMINIUM APR 2022 @ 298.00 SL 292.00 TGT 305.00-308.00.MCX
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