Buy Nickel May 2021 @ 1320.00 SL 1305.00 TGT 1338.00-1352.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 767.8-797.8.
Copper prices gained boosted by tight supply outlook and hopes for strong demand in the new energy sectors, as major economies recover from the COVID-19 pandemic
China's copper imports in April fell from the previous month, customs data showed
China unwrought copper, products imports at 484,890 T in April
Warehouse stock for Copper at LME was at 126725mt that is down by -4025mt.
BUY COPPER MAY 2021 @ 770.00 SL 764.00 TGT 778.00-784.00.MCX
ZINC
Zinc trading range for the day is 231.3-240.5.
Zinc prices gained amid positive US jobless data and domestic trade data.
However, zinc ingot supply is expected to increase in May as profits expanded, and high zinc prices also depressed consumption.
China's export growth unexpectedly speeds up in April
Warehouse stock for Zinc at LME was at 290800mt that is down by -225mt.
BUY ZINC MAY 2021 @ 231.50 SL 229.00 TGT 234.00-235.80.MCX
NICKEL
Nickel trading range for the day is 1314.3-1349.1.
Nickel trading range for the day is 1314.3-1349.1.
The faster upturn in business activity was linked to the successful containment of COVID19 and a further improvement in demand conditions.
The number of initial jobless claims in the United States last week stood at 498,000, which dropped to a new low during the pandemic period
Warehouse stock for Nickel at LME was at 259986mt that is down by -522mt.
BUY NICKEL MAY 2021 @ 1320.00 SL 1305.00 TGT 1338.00-1352.00.MCX
ALUMINIUM
Aluminium trading range for the day is 198.1-203.7.v
Aluminium gained as rising tensions between China and Australia, a major supplier of raw materials, added momentum to its rally
China's exports of unwrought aluminium and aluminium products were 437,285 tonnes in April, customs said.
UK aluminium scrap prices have continued to rise on a strong LME price and a lack of supply in the region, squeezing secondary aluminium margins further
Warehouse stock for Aluminium at LME was at 1797100mt that is down by -5075mt.
BUY ALUMINIUM MAY 2021 @ 199.00 SL 197.50 TGT 201.00-202.60.MCX
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