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Buy Copper Mar 2022 @ 812.00 SL 800.00 TGT 826.00-830.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 809.5-858.3.
Copper prices skyrocketed on record amid lingering worries of supply disruptions due to war in Ukraine and historically low inventories.
Copper stocks held by LME were at 68,825 tonnes, the lowest level since 2005.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 5.6 percent from last Friday
Warehouse stock for Copper at LME was at 69825mt that is down by -1550mt.
BUY COPPER MAR 2022 @ 812.00 SL 800.00 TGT 826.00-830.00.MCX
ZINC
Zinc trading range for the day is 324.9-340.9.
Zinc rallied on lingering concerns of further supply disruptions due to prolonged high energy prices.
The latest data shows that overseas LME zinc inventories are at the lowest since July 2020
The zinc ingot inventory across the seven major regions in China totalled 284,200 mt, up 700 mt from Monday February 28
Warehouse stock for Zinc at LME was at 142550mt that is down by -175mt.
BUY ZINC MAR 2022 @ 326.00 SL 322.00 TGT 331.00-334.00.MCX
NICKEL
Nickel trading range for the day is 2039.2-2333.6.
Nickel rallied as widening sanctions on Russia for its week-long invasion of Ukraine threatened to further disrupt the flow of commodities
The LME cancelled warrants of nickel has dropped recently compared with the previous data
The production of MHP and nickel matte in Indonesia is still the focus of market
Warehouse stock for Nickel at LME was at 77082mt that is down by -702mt
BUY NICKEL MAR 2022 @ 2060.00 SL 2020.00 TGT 2120.00-2140.00.MCX
ALUMINIUM
Aluminium trading range for the day is 301.3-315.1.
Aluminium prices rallied to all time high on worries over supply from Russia.
Adding to supply fears are falling metal inventories in LME-registered warehouses.
The European energy prices continued to rise, and the concerns over production cuts in Europe heightened, pulling up prices.
Warehouse stock for Aluminium at LME was at 794150mt that is down by -6950mt.
BUY ALUMINIUM MAR 2022 @ 301.00 SL 297.00 TGT 308.00-312.00.MCX
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