Buy Copper Feb 2022 @ 767.00 SL 762.00 TGT 775.00-780.00.MCX - Kedia Advisory
COPPER
Copper trading range for the day is 755-775.6.
Copper fell with wider markets in cautious mood as reports of artillery fire in east Ukraine heightened fears of conflict between Russia and Ukraine
Data showed China's factory-gate inflation and consumer price growth softened.
Demand in China has during Chinese New Year and the Olympics, when some industrial output has been restricted.
Warehouse stock for Copper at LME was at 75275mt that is up by 5150mt
BUY COPPER FEB 2022 @ 767.00 SL 762.00 TGT 775.00-780.00.MCX
ZINC
Zinc trading range for the day is 294.4-302.2.
Zinc gained as China's refined zinc production from 51 smelters stood at 444,000 tonnes down 8.2% year-on-year
February zinc output is expected to slip to some 430,000 tonnes
The energy prices in Europe has been volatile amid uncertainties haunting the RussiaUkraine issue
Warehouse stock for Zinc at LME was at 149350mt that is down by -1375mt.
BUY ZINC FEB 2022 @ 296.00 SL 294.00 TGT 299.00-301.00.MCX
NICKEL
Nickel trading range for the day is 1752-1841.8
Nickel prices rose as China nickel inventory continued to decline
Nickel exports from Russia will also be affected by the potential sanctions from the US on Russia.
Geopolitical tensions will give rise to market expectations of inflation and rising demand for industrial goods, a bullish factor for non-ferrous products
Warehouse stock for Nickel at LME was at 83820mt that is down by -654mt.
BUY NICKEL FEB 2022 @ 1770.00 SL 1755.00 TGT 1786.00-1800.00.MCX
ALUMINIUM
Aluminium trading range for the day is 256.7-264.5.
Aluminium rose as tensions eased over Ukraine and focus shifted to an energy crunch causing smelter shutdowns
The risk of supply disruptions triggered a rush to aluminum stocks at LME warehouses, which currently sit at roughly 50% of March 2021 levels.
Baise city in the aluminium producing region of Guangxi in China lifted lockdowns imposed last week
Warehouse stock for Aluminium at LME was at 857225mt that is down by -3025mt.
BUY ALUMINIUM FEB 2022 @ 258.00 SL 256.00 TGT 260.50-262.00.MCX
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