Buy Copper Nov 2021 @ 734.00 SL 730.00 TGT 738.00-744.00.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 722.7-741.9.
Copper gained as the copper inventory in bonded zone as of Friday November 19 dropped 9,700 mt from a week ago to 206,500 mt
Chinese refined copper spot premium surged to 1,225 yuan a tonne, a level unseen since April 2014
China Oct copper exports fall to 8 – month low
Warehouse stock for Copper at LME was at 97600mt that is down by -1850mt.
BUY COPPER NOV 2021 @ 734.00 SL 730.00 TGT 738.00-744.00.MCX
ZINC
Zinc trading range for the day is 261.8-270.8.
Zinc prices gained amid news of falling supply.
Global zinc market deficit widens to 44,000 T in Sept – ILZSG
SHFE zinc inventory dropped 5619 mt on the week, and totalled 128,700 mt across seven major markets in China
Warehouse stock for Zinc at LME was at 179375mt that is down by -1800mt.
SELL ZINC NOV 2021 @ 279.00 SL 284.00 TGT 274.00-271.80.MCX
NICKEL
Nickel trading range for the day is 1512-1541.2.
Nickel climbed on demand hopes following a proposed change for Chinese batteries standard that could boost nickel demand.
The global nickel market deficit narrowed to 5,200 tonnes in September from a shortfall a month earlier of 14,600 tonnes
Barclays expects world economy to grow at 6% this year
Warehouse stock for Nickel at LME was at 124866mt that is down by -1224mt.
SELL NICKEL NOV 2021 @ 1525.00 SL 1540.00 TGT 1510.00-1496.00.MCX
ALUMINIUM
Aluminium trading range for the day is 207.8-214.6.
Aluminium jumps amid supply concerns on China smelter blast
An aluminium plant in China's Yunnan province with annual capacity of 300,000 tonnes has stopped production after an explosion.
Aluminium stocks in LME-registered warehouses at 948,650 tonnes, about half the levels seen in March
Warehouse stock for Aluminium at LME was at 952850mt that is down by -3900mt.
SELL ALUMINIUM NOV 2021 @ 208.00 SL 210.00 TGT 205.50-203.50.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
