Buy Copper MAY 2021 @ 772.00 SL 764.00 TGT 782.00-788.00.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 761.9-787.7.
Copper prices fell as worries of tightening credit and potential commodities price cap in China dampened sentiment
CME raises Comex copper futures (Hg) maintenance margins by 8.2% to $6,600 per contract from $6,100 for May 2021
The global copper market should see a surplus of 79,000 tonnes this year and of 109,000 tonnes in 2022, the International Copper Study Group (ICSG) said.
Warehouse stock for Copper at LME was at 121250mt that is up by 9100mt.
BUY COPPER MAY 2021 @ 772.00 SL 764.00 TGT 782.00-788.00.MCX
ZINC
Zinc trading range for the day is 225.9-234.5.
Zinc prices gained as output at U.S. factories increased in April as operations at plants that were damaged by February’s stormy weather in the South came back online
Fears that central banks will act to contain rising inflation hit stock markets and commodities while boosting the dollar and bond yields.
China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low
Warehouse stock for Zinc at LME was at 287150mt that is down by -400mt.
BUY ZINC MAY 2021 @ 229.00 SL 227.00 TGT 231.00-232.50.MCX
NICKEL
Nickel trading range for the day is 1245.7-1333.1.
Nickel gains as U.S. dollar edged lower after a report that U.S. retail sales unexpectedly stalled in April
Output at U.S. factories increased in April as operations at plants that were damaged by February’s stormy weather
Inventories of refined nickel in the Shanghai bonded areas decreased 600 mt from a week ago and stood at 8,700 mt
Warehouse stock for Nickel at LME was at 256134mt that is unchange mt.
BUY NICKEL MAY 2021 @ 1272.00 SL 1260.00 TGT 1290.00-1304.00.MCX
ALUMINIUM
Aluminium trading range for the day is 189.6-198.6.
Aluminium dropped as China’s domestic aluminium supply will increase as new capacities have been put into operation
social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 54,000 mt'
China Hongqiao Group will put a secondary, or recycled, aluminium production line into operation in its home province of Shandong'
Warehouse stock for Aluminium at LME was at 1762525mt that is down by -3500mt.
BUY ALUMINIUM MAY 2021 @ 195.00 SL 193.00 TGT 197.00-198.50.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
