Buy Copper Dec 2021 @ 734.00 SL 728.00 TGT 740.00-744.00.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 730.9-749.1.
Copper climbs on Federal Reserve's upbeat view of the economy
MMG Ltd said it would be unable to continue production at its Las Bambas copper mine in Peru.
Copper stocks in LME-registered warehouses climbed to 89,475 tonnes and are now down 6% so far this year.
Warehouse stock for Copper at LME was at 89475mt that is up by 825mt.
BUY COPPER DEC 2021 @ 734.00 SL 728.00 TGT 740.00-744.00.MCX
ZINC
Zinc trading range for the day is 271.3-299.5.
Zinc prices gained after Zinc miner Nexa Resources said it halted output in Peru due to a road blockade.
The global zinc market deficit declined to 6,100 tonnes in October from a downwardly revised shortfall of 38,400 tonnes a month earlier.
During the first 10 months of 2021, ILZSG data showed a deficit of 93,000 tonnes versus a surplus of 476,000 tonnes in the same period of 2020
Warehouse stock for Zinc at LME was at 206825mt that is down by -750mt.
BUY ZINC DEC 2021 @ 277.00 SL 275.00 TGT 280.00-282.50.MCX
NICKEL
Nickel trading range for the day is 1518.7-1565.7.
Nickel prices rose as global nickel market was in short supply in January-October, 2021
The global nickel market saw a small surplus of 5,000 tonnes in October compared with a shortfall of 3,100 tonnes a month earlier
Nickel inventories in LME warehouses fell 58% from April to 110,358 tonnes, their lowest since December 2019.
Warehouse stock for Nickel at LME was at 106296mt that is down by -702mt.
BUY NICKEL DEC 2021 @ 1525.00 SL 1510.00 TGT 1540.00-1550.00.MCX
ALUMINIUM
Aluminium trading range for the day is 213.6-224.6.
Aluminium rose as global supply of primary aluminium was short of 1.36 million mt in JanOct 2021
The global demand of primary aluminium from January to October 2021 totalled 57.62 million mt, up 4.42 million mt.
The Fed announced to accelerate the taper and decided to wrap up the project by March next year.
Warehouse stock for Aluminium at LME was at 984650mt that is down by -5900mt.
BUY ALUMINIUM DEC 2021 @ 215.00 SL 213.00 TGT 217.00-218.50.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
