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01-01-1970 12:00 AM | Source: Kedia Advisory
Buy Copper JAN 2023 @ 765.00 SL 760.00 TGT 772.00-776.00.MCX - Kedia Advisory
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Copper

Copper trading range for the day is 758.2-779.6.

Copper rose amid supply concerns and demand optimism from hopes of an easing in rate hikes by the U.S. Federal Reserve.

China Dec copper imports at 514,049 tonnes – customs

China's 2022 copper concentrate imports at all – time high

Warehouse stock for Copper at LME was at 83850mt that is down by -700mt.

BUY COPPER JAN 2023 @ 765.00 SL 760.00 TGT 772.00-776.00.MCX

 

Zinc

Zinc trading range for the day is 281.3-293.3.

Zinc prices rallied as stockpiles in LME-registered warehouses fell to 20,975 tonnes, the lowest on record.

China's zero-COVID policy stifled metals demand from the world's biggest metals consumer

The People’s Bank of China injected a total CNY 132 billion of reverse repos into the banking system

Warehouse stock for Zinc at LME was at 20975mt that is down by -150mt.

BUY ZINC JAN 2023 @ 284.00 SL 280.00 TGT 289.00-292.00.MCX

 

Nickel

Nickel trading range for the day is 780.3-780.3.

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 53262mt that is down by -156mt.

SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

 

Aluminium

Aluminium trading range for the day is 214.7-222.3.

Aluminium rose helped by optimism over top consumer China's reopening, while a shaky U.S. dollar also lent support.

China will take steps to improve cash flows of high – quality property developers: c.bank official

China to take further measures to boost market confidence, says deputy c.bank governor

Warehouse stock for Aluminium at LME was at 403250mt that is down by -3350mt.

BUY ALUMINIUM JAN 2023 @ 215.00 SL 212.00 TGT 219.00-222.00.MCX

 

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