Buy Copper Dec 2022 @ 700.00 SL 695.00 TGT 706.00-710.00.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 692.8-710.4.
Copper settled flat as increasing concerns of a global recession hampered demand expectations.
Output from top producer Chile slid 6.7% in the first three quarters of the year and mine protests in Peru hamper activity.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 18.5 % from last Friday, the exchange said.
Warehouse stock for Copper at LME was at 84100mt that is up by 375mt.
BUY COPPER DEC 2022 @ 700.00 SL 695.00 TGT 706.00-710.00.MCX
ZINC
Zinc trading range for the day is 266.2-284.4.
Zinc dropped amid fears of surging COVID-19 infections in China and interest rate hikes by major central banks, fueled fears of an economic slowdown.
The supply rose while the demand is likely to weaken, but the inventory accumulation was less than expected.
The global zinc market deficit eased to 72,400 tonnes in October from a revised deficit of 99,900 tonnes a month earlier
Warehouse stock for Zinc at LME was at 36575mt that is down by -50mt.
BUY ZINC DEC 2022 @ 270.00 SL 267.00 TGT 274.00-276.00.MCX
NICKEL
Nickel trading range for the day is 800-800.
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 53862mt that is up by 720mt.
SELL NICKEL DEC 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 207.5-212.9.
Aluminum dropped as euro zone business activity shrank at the slowest pace in four months in December
China will step up policy adjustments to support growth
China to 'optimise' epidemic control policies in 2023
Warehouse stock for Aluminium at LME was at 477650mt that is down by -5350mt.
BUY ALUMINIUM DEC 2022 @ 209.00 SL 206.00 TGT 212.00-214.00.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 Disclaime
.jpg)
