Buy Nickel OCT 2021 @ 1420.00 SL 1405.00 TGT 1438.00-1450.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 706.6-734.8.
Copper prices rose as supply concerns resurfaced in Peru, the world's second-biggest producer of the metal.
Brazilian miner Vale SA said the production of copper concentrate at its Salobo mine is suspended due to a fire affecting a conveyor belt.
Chilean copper exports hit $4.157 billion in value in September, up 18.5% from a year earlier amid soaring global prices for the metal.
Warehouse stock for Copper at LME was at 200575mt that is down by -1925mt.
BUY COPPER OCT 2021 @ 716.00 SL 712.00 TGT 721.00-724.50.MCX
ZINC
Zinc trading range for the day is 254.2-263.4.
Zinc prices gained as support seen after Japan's Mitsui Mining expects 2.2% drop in H2 zinc output
Japan's Toho Zinc plans 1.9% increase in H2 zinc output
Total zinc inventories across seven Chinese markets stood at 119,800 mt as of September 30, down 11,500 mt from September 27
Warehouse stock for Zinc at LME was at 198550mt that is down by -925mt.
BUY ZINC OCT 2021 @ 259.00 SL 257.00 TGT 261.00-262.40.MCX
Nickel
Nickel trading range for the day is 1395.7-1455.7.
Nickel prices remained supported as new orders for U.S.-made goods accelerated in August
The difference between LME cash nickel and the three-month contract flipped to a discount of $1 a tonne after staying in premium since Aug. 25
Warehouse stock for Nickel at LME was at 151728mt that is down by -1452mt.
BUY NICKEL OCT 2021 @ 1420.00 SL 1405.00 TGT 1438.00-1450.00.MCX
ALUMINIUM
Aluminium trading range for the day is 231.2-241.2.
Aluminium prices rallied boosted by strong demand and large shortages created by China imposing production curbs on high-polluting industries
A widespread power shortage in China has raised concerns of slower growth and demand
Japan Q4 aluminium premium climbs by 19% to $220/T
Warehouse stock for Aluminium at LME was at 1188575mt that is down by -9850mt.
BUY ALUMINIUM OCT 2021 @ 234.00 SL 232.00 TGT 236.00-237.20.MCX
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