Buy Nickel Jun 2021 @ 1298.00 SL 1285.00 TGT 1314.00-1324.00.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 734.6-750.2.
Copper prices eased as data showed Chinese factories were facing the fastest rises in the cost of input materials in 12 years
Investors were also waiting for U.S. inflation figures and a European Central Bank meeting on Thursday for clues about the pace of monetary tightening
Yangshan copper premium fell to $26 a tonne, its lowest since February 2016 and 77% lower from May 2020, indicating weak demand
Warehouse stock for Copper at LME was at 129675mt that is up by 2475mt.
SELL COPPER JUN 2021 @ 742.00 SL 746.00 TGT 736.00-732.00.MCX
ZINC
Zinc trading range for the day is 236.2-240.2.
Zinc prices remained supported as China's refined zinc output stood at 494,600 mt in May, down 2.06%
Output stood at 2.51 million mt in January-May, up 4.51% year on year.
Yunnan officially announced that it will gradually increase the power load of nonferrous metal smelting and other industries.
Warehouse stock for Zinc at LME was at 269650mt that is down by -700mt.
BUY ZINC JUN 2021 @ 235.00 SL 233.00 TGT 237.00-238.50.MCX
NICKEL
Nickel trading range for the day is 1308.8-1336.8.
Nickel prices remained supported as China's producer inflation data for May came in higher than expected.
Indonesia says 3 nickel smelters to be completed and operational this year
The national refined nickel output decreased 590 mt or 4.53% month on month to 12,400 mt in May
Warehouse stock for Nickel at LME was at 241260mt that is down by -132mt.
BUY NICKEL JUN 2021 @ 1298.00 SL 1285.00 TGT 1314.00-1324.00.MCX
ALUMINIUM
Aluminium trading range for the day is 190.1-193.5.
Aluminium gains as the consumption is in the peak season, and domestic social inventories kept falling amid the power curtailment in some regions.
China's consumer price inflation rose less-than-expected in May, while factory gate price growth reached its highest level since 2008
China produced 3.32 million mt of aluminium in May, up 7.95% on the year.
Warehouse stock for Aluminium at LME was at 1649750mt that is down by -3425mt.
BUY ALUMINIUM JUN 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.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 Disclaime
