Buy Copper Sep 2021 @ 710.00 SL 705.00 TGT 715.00-718.00.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 710.6-759.
Copper prices rallied as Shanghai copper stocks fell 10.7% from the previous week, sinking to their lowest level in almost 10 years as tight supplies push metal prices higher.
Chinese smelters raise August copper output month – on – month
Imports of unwrought copper and products into China, were 394,017 tonnes in August, down 7% from July and down 41% year-on-year.
Warehouse stock for Copper at LME was at 233950mt that is unchange mt.
BUY COPPER SEP 2021 @ 710.00 SL 705.00 TGT 715.00-718.00.MCX
Zinc
Zinc trading range for the day is 251.3-258.7.
Zinc prices rose as support seen after China PPI index was better than expected due to rising commodity prices and right raw material supply.
Zinc output in September is likely to add 11,800 mt from the previous month.
Total zinc inventories across seven Chinese markets stood at 119,600 mt, down 2,500 mt from September 6 and 4,000 mt from September 3./
Warehouse stock for Zinc at LME was at 226900mt that is down by -2350mt.
BUY ZINC SEP 2021 @ 243.20 SL 241.50 TGT 245.00-246.50.MCX
NICKEL
Nickel trading range for the day is 1517-1566.4.
Nickel rallied as Shanghai prices jumped to a record high and surpassed a seven-year high in London, boosted by robust demand and dwindling inventories.
Prices also rose supported by strong demand from industrial sector and electric vehicle battery makers, amid tight supply
ShFE nickel inventories were last at 5,950 tonnes, hovering near a record low of 4,455 tonnes hit in August
Warehouse stock for Nickel at LME was at 179394mt that is down by -1974mt.
BUY NICKEL SEP 2021 @ 1434.00 SL 1422.00 TGT 1448.00-1458.00.MCX
Aluminium
Aluminium trading range for the day is 225.3-233.9.
Aluminium prices rose on supply worries in China and Guinea.
Output curbs in China, have weighed on stockpile availability, while political turmoil in Guinea, added to the nervousness.
China's factory prices rise at fastest pace since August 2008
Warehouse stock for Aluminium at LME was at 1317725mt that is down by -7500mt.
BUY ALUMINIUM SEP 2021 @ 212.00 SL 210.00 TGT 214.00-215.50.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
