Buy Copper Nov 2021 @ 764.00 SL 758.00 TGT 774.00-778.00.MCX
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COPPER
Copper trading range for the day is 752.9-776.3.
Copper prices fell on a small uptick in readily available exchange inventories and a firm dollar.
On-warrant copper stockpiles in LME warehouses rose for the fourth straight session to 23,300 tonnes
Copper market in 31,000 tonnes deficit in Jul 2021 – ICSG
Warehouse stock for Copper at LME was at 155150mt that is down by -4650mt.
BUY COPPER NOV 2021 @ 764.00 SL 758.00 TGT 774.00-778.00.MCX
ZINC
Zinc trading range for the day is 276.9-290.1.
Zinc remained under pressure as the SHFE and LME inventories both climbed, and the domestic consumption has been sluggish.
Global zinc market deficit falls to 14,900 T in August, ILZSG says
During the first eight months of 2021, data showed a deficit of 57,000 tonnes versus a surplus of 446,000 tonnes in the same period of 2020.
Warehouse stock for Zinc at LME was at 198025mt that is down by -1600mt.
BUY ZINC NOV 2021 @ 284.00 SL 281.00 TGT 287.00-289.00.MCX
NICKEL
Nickel trading range for the day is 1538.7-1602.1.
Nickel prices dropped as global nickel market deficit shrinks in August to 15,500 T
The premium of LME cash nickel over the three-month contract shot up to $189 a tonne, indicating tightness of nearby supplies
Nickel pig iron market in China continues to be very tight due to power rationing and some supply concerns from Indonesia and the Philippines
Warehouse stock for Nickel at LME was at 141252mt that is down by -732mt.
BUY NICKEL NOV 2021 @ 1566.00 SL 1550.00 TGT 1588.00-1605.00.MCX
ALUMINIUM
Aluminium trading range for the day is 225-235.8.
Aluminium prices dropped as domestic social inventory of aluminium increased from 11,000 mt to 968,000 mt.
Global aluminium output rises 1.77% y/y to 5.5 mln T in Sept – IAI
PBoC injects CNY 200 billion into market for 2nd Day
Warehouse stock for Aluminium at LME was at 1064425mt that is down by -14100mt.
BUY ALUMINIUM NOV 2021 @ 233.50 SL 231.00 TGT 236.00-237.50.MCX
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