Buy Copper JAN 2023 @ 765.00 SL 760.00 TGT 772.00-776.00.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 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
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
