Buy Copper JUN 2021 @ 748.00 SL 738.00 TGT 748.00-750.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 733.4-760.4.
Copper prices held firm as a softer dollar spurred modest purchases, but gains were capped by concerns over price curbs on industrial metals in top consumer China.
China’s market regulators warned industrial metal companies to maintain “normal market order” during talks on the significant gains in metals prices this year.
Chile's Codelco says 40% of its copper output at risk if glacier bill passes
'BUY COPPER JUN 2021 @ 748.00 SL 738.00 TGT 748.00-750.00.MCX
ZINC
Zinc trading range for the day is 226.7-234.9.
Zinc prices dropped affected by macro policies and the downstream consumption gradually entering the traditional off-season.
Further, the decline of housing sales in the US in April for the third consecutive month limited the upward trend of zinc.
However, due to Yunnan's power curtailment policy, the start of smelters wais limited, and the supply reduction limited the downside
Warehouse stock for Zinc at LME was at 288425mt that is up by 3250mt.
BUY ZINC JUN 2021 @ 230.00 SL 227.50 TGT 232.50-234.00.MCX
NICKEL
Nickel trading range for the day is 1214.6-1290.2.
Nickel prices gained as support seen after data showed Nickel market sees a wider deficit in March
The global nickel market deficit widened to 16,100 tonnes in March from a small deficit of 600 tonnes in the previous month
During the first three months of the year, the global market saw a deficit of 18,700 tonnes, down from a surplus of 38,000 tonnes in the same period of 2020
Warehouse stock for Nickel at LME was at 249678mt that is down by -618mt.
SELL NICKEL JUN 2021 @ 1232.00 SL 1248.00 TGT 1216.00-1208.00.MCX
ALUMINIUM
Aluminium trading range for the day is 182.4-194.6.
Aluminium recovered on short covering after prices dropped earlier as investors continued to focus on inflation concerns.
Global primary aluminium output fell to 5.56 million tonnes in April from revised 5.744 million tonnes in March, data from the IAI showed.
China aluminium production up 12.4 pct to 3.35 mln tonnes in April
BUY ALUMINIUM JUN 2021 @ 189.00 SL 186.50 TGT 192.00-194.00.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
