Buy Copper JAN 2022 @ 738.00 SL 734.00 TGT 745.00-748.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 737.9-757.7.
Copper prices rise as China signals more policy support
Sentiment in the metals market was supported by expectations of more rate cuts in China
Copper stocks in LME-registered warehouses climbed to their highest in two months at 94,525 tonnes
Warehouse stock for Copper at LME was at 98750mt that is up by 4225mt.
BUY COPPER JAN 2022 @ 738.00 SL 734.00 TGT 745.00-748.00.MCX
ZINC
Zinc trading range for the day is 290.2-297.6.
Zinc prices rose as bullish sentiment in crude oil and thermal coal markets supported prices.
PBoC made it clear that it will maintain the steady growth of the total amount of money and credit
PBoC indicated that RRR still has room of further adjustment, though limited.
Warehouse stock for Zinc at LME was at 175525mt that is down by -4425mt.
BUY ZINC JAN 2022 @ 290.50 SL 288.50 TGT 292.50-294.00.MCX
NICKEL
Nickel trading range for the day is 1628.7-1783.9.
Nickel prices rose as a supply shortage forced traders to pay huge premiums to get their hands on metal.
Nickel's biggest supply squeeze in more than a decade is drawing attention from the London Metal Exchange
With exchange stockpiles falling, the tom/next and cash-to-three-month spreads surged to their highest in more than 10 years
Warehouse stock for Nickel at LME was at 94830mt that is down by -42mt.
BUY NICKEL JAN 2022 @ 1648.00 SL 1635.00 TGT 1664.00-1675.00.MCX
ALUMINIUM
Aluminium trading range for the day is 237.8-242.6.
Aluminium rose as a number of overseas aluminium smelters introduced production cuts, triggering market concerns over supply
China 2021 aluminium imports rise to annual record high
Higher power prices have forced smelters to cut output, tightening the market.
Warehouse stock for Aluminium at LME was at 878750mt that is down by -5375mt.
BUY ALUMINIUM JAN 2022 @ 238.00 SL 236.00 TGT 240.60-242.00.MCX
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