Buy Copper Sep 2022 @ 644.00 SL 640.00 TGT 650.00-654.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 636.9-658.1.
Copper dropped as the investors weighed the US inflation print for August, and they were still worried about the economic prospect
Peru communities block key copper transport road
Five of China's largest banks, have cut deposit rates for the first time since 2015
Warehouse stock for Copper at LME was at 103225mt that is up by 200mt.
BUY COPPER SEP 2022 @ 644.00 SL 640.00 TGT 650.00-654.00.MCX
ZINC??????
Zinc trading range for the day is 276-294.8.
Zinc dropped amid firm dollar, fuelled by prospects of a solid interest rate increase after U.S. consumer prices unexpectedly rose in August.
About half of the European Union's zinc production capacity "has already been forced offline due to the power crisis.”
The zinc ingot inventories across seven major markets in China totalled 98,200 mt as of 9 September, up 1,400 mt from last Friday
Warehouse stock for Zinc at LME was at 76100mt that is down by -275mt.
BUY ZINC SEP 2022 @ 282.00 SL 278.00 TGT 286.00-288
NICKEL
Nickel trading range for the day is 1943.3-1943.3.
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 51882mt that is down by -582mt.
SELL NICKEL SEP 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 197.7-203.9.
Aluminium prices rose as supply concerns rose on speculation of wider output cuts in China
PBoC holds steady one-year MLF rate at 2.75%
China's Yunnan to extend power curbs on aluminium producers
Warehouse stock for Aluminium at LME was at 349650mt that is up by 4050mt.
BUY ALUMINIUM SEP 2022 @ 200.00 SL 197.00 TGT 203.00-205.00.MCX
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