Buy Copper Aug 2021 @ 718.00 SL 712.00 TGT 726.50-730.00.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 720.2-744.2.
* Copper prices rose on worries of supply disruptions at Chile's Escondida, as mediation talks in hopes of preventing a strike were extended.
* Yangshan copper premium rose to $60 a tonne, its highest since March 26, indicating improved demand for importing the metal into top consumer China.
* China's copper imports in July fell 1.0% from June, declining for a fourth straight month, customs data showed
* Warehouse stock for Copper at LME was at 236100mt that is up by 1175mt.
BUY COPPER AUG 2021 @ 718.00 SL 712.00 TGT 726.50-730.00.MCX
ZINC
* Zinc trading range for the day is 244.3-251.5.
* Zinc prices gained as power curtailment has been influencing supply from mines with intensified policies in Hunan and Guangxi.
* The pandemic has also resulted in a delayed transportation and increased delivery costs, lifting operation costs among downstream businesses.
* Clues to demand prospects for industrial metals will come from Chinese data over the next few days.
* Warehouse stock for Zinc at LME was at 248250mt that is down by -250mt.
BUY ZINC AUG 2021 @ 241.40 SL 239.50 TGT 243.60-245.00.MCX
NICKEL
* Nickel trading range for the day is 1418-1462.4.
* Nickel rose due to strong demand for nickel from stainless steel and new energy sector, tightened supply.
* Nickel output stood at around 12,335 mt in July, down 13.48% or 1,922 mt month on month
* Output of nickel pig iron (NPI) stood at 41,900 mt in July, up 7.63% month on month.
* Warehouse stock for Nickel at LME was at 205632mt that is down by -2004mt.
BUY NICKEL AUG 2021 @ 1372.00 SL 1356.00 TGT 1388.00-1398.00.MCX
ALUMINIUM
* Aluminium trading range for the day is 204.3-208.9.
* Aluminium gained as social inventories kept de-stocking above expectation amid a weak supply & demand pattern, offering strong support to prices.
* New power consumption restrictions could temporarily shut down about half a million tonnes of annual smelting capacity.
* China's central bank to keep monetary policy flexible, appropriate
* Warehouse stock for Aluminium at LME was at 1339100mt that is down by -6750mt.
BUY ALUMINIUM AUG 2021 @ 193.50 SL 192.00 TGT 195.40-197.00.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
