Buy Nickel FEB 2022 @ 1725.00 SL 1710.00 TGT 1745.00-1758.00.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 744.2-763.8.
Copper prices dropped as global copper smelting activity powered to a 13-month peak in January as operations in China ramped up
Codelco, Collahuasi copper mine production up in December – Chile's Cochilco
Mining giant Grupo Mexico said that global copper demand will grow 3% in 2022.
Warehouse stock for Copper at LME was at 82400mt that is down by -2475mt.
BUY COPPER FEB 2022 @ 754.00 SL 750.00 TGT 758.00-764.00.MCX
ZINC
Zinc trading range for the day is 294.4-301.2.
Zinc dropped as investors remain cautious ahead of the payrolls report on Friday and wonder what the tightening path from the Fed will be.
European zinc premiums stretch to new highs
No offers reported in Europe, but premium continues to rise amid scarcity sentiment.
Warehouse stock for Zinc at LME was at 154200mt that is down by -450mt.
BUY ZINC FEB 2022 @ 298.00 SL 296.00 TGT 300.00-302.00.MCX
NICKEL
Nickel trading range for the day is 1719.4-1742.4.
Nickel dropped as markets in top metals consumer China were shut for a week-long holiday and a slide in the U.S. dollar paused.
European, US nickel premiums climb on renewed demand, inventory tightness
The global nickel market saw a deficit of 3,000 tonnes in November compared with a shortfall of 1,600 tonnes a month earlier
Warehouse stock for Nickel at LME was at 88182mt that is down by -426mt.
BUY NICKEL FEB 2022 @ 1725.00 SL 1710.00 TGT 1745.00-1758.00.MCX
ALUMINIUM
Aluminium trading range for the day is 238.9-245.9.
Aluminium gains as rising geopolitical tensions surrounding Ukraine have fuelled market anxiety about aluminium supply
Stockpiles of aluminum in warehouses approved by the LME fell to less than 850,000 tons, the lowest level since 2007
At the same time, tensions between the US and Russia over Ukraine brought the possibility of sanctions on Russian aluminum producers.
Warehouse stock for Aluminium at LME was at 781900mt that is down by -325mt.
BUY ALUMINIUM FEB 2022 @ 239.00 SL 237.00 TGT 242.00-244.00.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
