Buy Copper Jul 2021 @ 726.00 SL 722.00 TGT 734.00-738.50.MCX - Kedia Advisory
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Copper
Copper trading range for the day is 715.2-736.8.
Copper fell as falling imports by top consumer China and climbing inventories raised worries about demand while a stronger dollar also weighed.
China's June copper imports fall for third month, hit by high prices.
China copper treatment charges near six-month high on smelter outage.
Warehouse stock for Copper at LME was at 220575mt that is up by 1400mt.
BUY COPPER JUL 2021 @ 726.00 SL 722.00 TGT 734.00-738.50.MCX
ZINC
Zinc trading range for the day is 236.8-243.2.
Zinc prices dropped as under the influence of the off-season, the consumption of downstream sections showed a downward trend.
PBOC stated that the Fed policy shift had relatively little impact on Chinese financial market.
U.S. consumer prices post largest gain in 13 years.
Warehouse stock for Zinc at LME was at 249575mt that is down by -1500mt.
BUY ZINC JUL 2021 @ 240.00 SL 238.00 TGT 242.50-244.00.MCX
NICKEL
Nickel trading range for the day is 1377.1-1424.7.
Nickel prices gains after China's June refined nickel output rises 14.8% m/m.
In the first half of 2021, total nickel cathode production fell 4.4% year on year at 79,400 tonnes.
China's June exports growth beats f'cast as easing global lockdowns boost demand.
Warehouse stock for Nickel at LME was at 226230mt that is down by -732mt.
BUY NICKEL JUL 2021 @ 1390.00 SL 1378.00 TGT 1406.00-1416.00.MCX
ALUMINIUM
Aluminium trading range for the day is 196.4-202.
Aluminium prices gained as China’s exports grew much faster than expected in June.
U.S. consumer prices rose by the most in 13 years in June amid supply constraints.
Social inventories of aluminum ingots continued to decrease, but the consumption of profiles in construction and other sectors weakened.
Warehouse stock for Aluminium at LME was at 1480150mt that is down by -15925mt.
BUY ALUMINIUM JUL 2021 @ 198.00 SL 197.00 TGT 200.00-201.50.MCX
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