Buy Copper May 2022 @ 787.00 SL 782.00 TGT 795.00-800.00.MCX - Kedia Advisory
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Copper
Copper trading range for the day is 779.3-807.9.
Copper prices rose as a slight pullback in the U.S. dollar and hopes for more economic stimulus from top metals consumer China lifted sentiment.
China's central bank said it would step up prudent monetary policy support to the real economy, especially to small firms hit by COVID-19
Copper market in 16,000 tonne surplus in Jan 2022 – ICSG
Warehouse stock for Copper at LME was at 135175mt that is down by -2100mt.
BUY COPPER MAY 2022 @ 787.00 SL 782.00 TGT 795.00-800.00.MCX
Zinc
Zinc trading range for the day is 349-365.
Zinc gains as support seen after the People's Bank of China that it will step up monetary policy support to the real economy.
China will keep liquidity reasonably ample and boost healthy and stable development of the financial markets
Global zinc market swings to surplus of 14,300 T in February – ILZSG
Warehouse stock for Zinc at LME was at 101250mt that is down by -475mt.
BUY ZINC MAY 2022 @ 354.00 SL 348.00 TGT 362.00-366.00.MCX
Nickel
Nickel trading range for the day is 829.9-829.9.
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 72990mt that is up by 312mt.
SELL NICKEL MAY 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
Aluminium
Aluminium trading range for the day is 248.5-266.1.
Aluminium dropped on late profit booking after seen supported buoyed by hopes for more economic stimulus from top consumer China
China will step up infrastructure construction to boost growth – President Xi
Global aluminium output falls 1.55% in March year on year, IAI says
Warehouse stock for Aluminium at LME was at 579600mt that is down by -4450mt.
BUY ALUMINIUM MAY 2022 @ 254.00 SL 251.00 TGT 259.00-262.00.MCX
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