IGI Logo

COPPER

Copper trading range for the day is 726.6-746.2.

Copper dropped amid mounting fears that a global economic slowdown and persistent coronavirus outbreaks in China would dampen demand.

Kazakhstan's January-May refined copper output rose 1.3% year on year

Codelco unions ready strike after troubled Chile smelter shuttered

Warehouse stock for Copper at LME was at 117025mt that is down by -1000mt.

BUY COPPER JUN 2022 @ 732.00 SL 727.00 TGT 738.00-742.00.MCX

ZINC

Zinc trading range for the day is 304.1-317.7.

Zinc dropped as the market players were again deeply worried about the economic recession

China imported 3,200 mt of refined zinc in May 2022, up 111.41% on the month, and down 94.35% on the year.

Kazakhstan's January-May production of refined zinc was down 5.4%

Warehouse stock for Zinc at LME was at 79425mt that is down by -850mt.

BUY ZINC JUN 2022 @ 306.00 SL 302.00 TGT 314.00-320.00.MCX

NICKEL

Nickel trading range for the day is 713.3-713.3.

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 68856mt that is down by -12mt.

SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 210.9-219.1.

Aluminium prices gained as China's May aluminium imports drop 16% y/y

Global May aluminium output rises 0.4% y/y to 5.8 mln tonnes

Estimated Chinese production increased to 3.42 million tonnes in May, up from 3.355 million tonnes in May last year

Warehouse stock for Aluminium at LME was at 404450mt that is down by -3425mt.

BUY ALUMINIUM JUN 2022 @ 214.00 SL 212.00 TGT 218.00-220.00.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