Buy Zinc Apr 2022 @ 329.00 SL 326.00 TGT 335.00-338.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 810.6-831.6.
Copper prices dropped as Peru approves expansion of Las Bambas copper mine despite protests
The ICSG said mine production grew by around 2.3% in 2021, driven by higher output from Peru
The global market is already tight, with exchange stocks near 16-year lows, and a ban on Russian metal could lead to further supply disruptions
Warehouse stock for Copper at LME was at 80600mt that is down by -75mt.
BUY COPPER APR 2022 @ 818.00 SL 813.00 TGT 824.00-830.00.MCX
ZINC
Zinc trading range for the day is 333.4-341.2.
Zinc rose as the rising energy prices caused the market to worry about supply shortages.
Nyrstar restarted the Auby zinc smelter in France, but stressed that high electricity prices still hinder the smelter's full production
China zinc ingot social inventory across seven major markets dropped 3,600 mt from last Friday
Warehouse stock for Zinc at LME was at 142625mt that is down by -325mt.
BUY ZINC APR 2022 @ 329.00 SL 326.00 TGT 335.00-338.00.MCX
NICKEL
Nickel trading range for the day is 2398.4-2863.6.
Nickel prices climbed as disruptions from the Russia-Ukraine conflict and higher energy costs triggered concerns over global supply
LME nickel surged 15% to hit its upper trading limit, reversing direction and climbing for the first time since trading resumed last week
Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphate plants may contract.
Warehouse stock for Nickel at LME was at 73074mt that is down by -168mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 284.5-296.5.
Aluminium rose amid risks of supply shortages amid the heightened Russia-Ukraine war and dwelling exchange inventories.
Stocks of aluminium in LME-registered warehouses were at 704,850 tonnes, its lowest level since 2007
China's aluminium imports in the first two months of 2022 fell 26.2% from a year earlier
Warehouse stock for Aluminium at LME was at 678100mt that is down by -6150mt
BUY ALUMINIUM APR 2022 @ 285.00 SL 280.00 TGT 292.00-295.00.MCX
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