Buy Copper May 2022 @ 758.00 SL 752.00 TGT 766.00-770.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
COPPER
Copper trading range for the day is 753.3-772.5.
Copper prices fell as the U.S. dollar rose to a 20-year high and as global equities tumbled on worries over a higher interest rate environment hurting global growth.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 8.1 percent from last Friday.
German industrial orders fell more than expected in March, driven mainly by a reduction in orders from abroad
Warehouse stock for Copper at LME was at 170025mt that is up by 1225mt.
BUY COPPER MAY 2022 @ 758.00 SL 752.00 TGT 766.00-770.00.MCX
ZINC
Zinc trading range for the day is 317.6-333.4.
Zinc prices closed with losses as the tightening monetary policy across the globe and sluggish domestic consumption pressured the market.
China's export growth is expected to have slowed to a crawl in April as strict COVID-19 curbs hit production while imports likely extended declines
Total zinc inventories across seven markets in China stood at 281,100 mt as of May 5, up 4,000 mt from April 29, down 2,800 mt from April 25.
Warehouse stock for Zinc at LME was at 94375mt that is up by 1200mt.
BUY ZINC MAY 2022 @ 320.00 SL 315.00 TGT 326.00-328.00.MCX
NICKEL
Nickel trading range for the day is 2325-2325.
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 73464mt that is down by -144mt.
SELL NICKEL MAY 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 234.9-246.5.
Aluminium prices fell as concerns about demand created by a slowdown in manufacturing activity, particularly in China, were reinforced by the strong dollar.
China's Premier of the State Council chaired an executive meeting to deploy further relief measures for small, medium and micro enterprises
China's factory activity shrank at the sharpest pace in 26 months in April, while manufacturing activity in the United States and the euro zone slowed
Warehouse stock for Aluminium at LME was at 571800mt that is down by -1800mt.
BUY ALUMINIUM MAY 2022 @ 236.00 SL 233.00 TGT 242.00-246.00.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
