Buy Copper Apr 2022 @ 9350.00 SL 9200.00 TGT 9550.00-9700.00.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 798.7-824.7.
Copper dropped as the market is constantly troubled by the pandemic situation
Pressure on prices continues amid the still spreading COVID in east China and occasional cases in south China.
Copper inventory across major Chinese markets fell 5,000 mt from last Friday to 135,300 mt.
Warehouse stock for Copper at LME was at 105600mt that is up by 1825mt
BUY COPPER APR 2022 @ 9350.00 SL 9200.00 TGT 9550.00-9700.00.MCX
ZINC
Zinc trading range for the day is 352.1-367.3.
Zinc prices dropped paring gains as China's output of refined zinc in March 2022 is estimated at up by 9.37% MoM.
The total output of refined zinc from January to March 2022 is expected to be 1.477 million mt, down 2.19% year-on-year.
LME inventory kept falling, and cancelled warrants rose steeply, and market shall watch overseas short squeeze.
Warehouse stock for Zinc at LME was at 123675mt that is down by -2000mt
BUY ZINC APR 2022 @ 22250.00 SL 22000.00 TGT 22600.00-22800.00.MCX
NICKEL
Nickel trading range for the day is 2378.9-2478.9.
Nickel dropped as a stronger dollar and demand worries due to continued COVID-19 lockdowns in China weighed on the metals.
Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
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 73692mt that is down by -498mt.
BUY NICKEL APR 2022 @ 495.00 SL 480.00 TGT 515.00-525.00.MCX
ALUMINIUM
Aluminium trading range for the day is 259.4-279.2.
Aluminium prices fell as COVID-19 lockdowns in top consumer China fuelled worries about slowing demand for industrial metals.
Smelters in Yunnan province have been ramping up production faster
The discount for the cash contract over three-month aluminium was last at $23 a tonne, against a premium in February, the market is not worried about supplies
Warehouse stock for Aluminium at LME was at 609850mt that is down by -5900mt
SELL ALUMINIUM APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.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
