Buy Copper Aug 2022 @ 674.00 SL 670.00 TGT 680.00-685.00.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 667.3-688.5.
Copper rose lifted by tight inventories across base metals and lower-than-expected US inflation numbers for July.
Copper stockpiles in SHFE warehouses were at their lowest since January 21, while LME inventories fell to their lowest since June 29
China's July copper output climbs from prior month
Warehouse stock for Copper at LME was at 131575mt that is up by 5050mt.
BUY COPPER AUG 2022 @ 674.00 SL 670.00 TGT 680.00-685.00.MCX
ZINC
Zinc trading range for the day is 314.3-335.9.
Zinc rose as lower-than-expected U.S. inflation eased worries of aggressive rate hikes that could hurt growth and metals demand.
Refined zinc production at Glencore's European operations fell by 47,500 tonnes year-onyear to 350,900 tonnes in the first six months of 2022.
Europe's power woes and a string of smelter problems elsewhere caused global output to slide by almost 2% in the first five months of 2022
Warehouse stock for Zinc at LME was at 74600mt that is up by 500mt.
BUY ZINC AUG 2022 @ 215.00 SL 212.00 TGT 220.00-223.00.MCX
NICKEL
Nickel trading range for the day is 647.2-647.2.
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 56286mt that is up by 42mt.
SELL NICKEL AUG 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 213.6-221.
Aluminium rose as a deepening energy crisis, particularly in Europe, has squeezed supplies of the energy-intensive metal.
Prices getting support as power rationing is already on in some places in China's Zhejiang province, affecting the production of some smelters.
Aluminium smelter in China's Sichuan cut its output following an accident, which is expected to affect 200,000 mt of capacity
Warehouse stock for Aluminium at LME was at 279125mt that is down by -3575mt.
BUY ALUMINIUM AUG 2022 @ 216.00 SL 213.00 TGT 220.00-223.00.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
.jpg)
