Buy Copper Sep 2022 @ 630.00 Sl 626.00 Tgt 636.00-642.00.Mcx - Kedia Advisory
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COPPER
Copper trading range for the day is 625-644.
Copper seen under pressure as renewed Covid lockdowns in China and tightening global monetary conditions dampened sentiment and weakened the demand outlook.
Chile reported an 8.6% yoy output drop to 430,028 tonnes in July.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 7.4 % from last Friday, the exchange said
Warehouse stock for Copper at LME was at 110550mt that is down by -3775mt.
BUY COPPER SEP 2022 @ 630.00 SL 626.00 TGT 636.00-642.00.MCX
ZINC
Zinc trading range for the day is 275.1-297.7.
Zinc dropped on concerns about lower demand for the metal mostly used to galvanize steel.
Pressure seen as demand outlook was clouded further by fresh data from major global economies that signaled tepid growth.
August refined zinc output is estimated at 477,500 mt amid influences like power rationing and maintenance
Warehouse stock for Zinc at LME was at 77500mt that is up by 350mt.
BUY ZINC SEP 2022 @ 280.00 SL 276.00 TGT 286.00-289.00.MCX
NICKEL
Nickel trading range for the day is 593.3-593.3.
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 54498mt that is down by -42mt.
SELL NICKEL SEP 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 201-206.
Aluminum dropped after China’s lockdown of megacity Chengdu added to demand woes.
Dutch aluminium maker Aldel halts remaining production
Slovenia's Talum cuts primary aluminium output to 20% of capacity
Warehouse stock for Aluminium at LME was at 276050mt that is down by -325mt.
BUY ALUMINIUM SEP 2022 @ 201.00 SL 198.00 TGT 206.00-209.00.MCX 
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