Buy Nickel Feb 2022 @ 1756.00 SL 1740.00 TGT 1774.00-1786.00.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 757.7-778.1.
Copper rose as a jump in oil prices prompted investors' quest for a hedge against stubborn inflation
Peru community to restart blockade of Las Bambas mine road, neighbors pause protest
Warehouses monitored by the SHFE saw large inflows of inventories last week with copper surging by 164%.
Warehouse stock for Copper at LME was at 77325mt that is down by -2600mt.
BUY COPPER FEB 2022 @ 762.00 SL 754.00 TGT 772.00-780.00.MCX
ZINC
Zinc trading range for the day is 292.7-312.1.
Zinc dropped the social inventories of zinc ingot across seven major markets in China stood at 254,300 mt, up 11,600 mt
The social inventory has reached the pre-pandemic level on the back of sluggish demand and steady arrivals at markets.
China refined zinc output down 4.56% yoy in January
Warehouse stock for Zinc at LME was at 152700mt that is down by -1175mt.
BUY ZINC FEB 2022 @ 304.00 SL 301.00 TGT 308.00-310.00.MCX
NICKEL
Nickel trading range for the day is 1719.6-1864.6.
Nickel gained due to escalating fears that reduced supplies from Russia would exacerbate existing shortages of metals
Shortages can be seen in dwindling inventories in LME registered warehouses.
Nickel inventories at 84,894 tonnes have dropped 67% since April last year, while cancelled warrants stand at 50%.
Warehouse stock for Nickel at LME was at 85644mt that is down by -246mt.
BUY NICKEL FEB 2022 @ 1756.00 SL 1740.00 TGT 1774.00-1786.00.MCX
ALUMINIUM
Aluminium trading range for the day is 252.2-263.6.
Aluminium rose as most smelters in north China were late in resuming the production
Domestic aluminium output rose steadily, but the overall operating capacity was lower than in 2021.
The outbreak of COVID in Baise, Guangxi disturbed local production and logistics, further tightening spot supplies.
Warehouse stock for Aluminium at LME was at 761950mt that is down by -5750mt.
BUY ALUMINIUM FEB 2022 @ 252.00 SL 249.00 TGT 255.00-257.00.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
