Buy Zinc Aug 2022 @ 270.00 SL 266.00 TGT 276.00-280.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 623.6-650.2.
Copper gains as a growing list of miners have flagged reduced production due to various disruptions
MMG suspends copper output guidance after Las Bambas protests in Peru
Antofagasta Plc that operates four copper mines in Chile also slashed its full-year output target to 640-660,000 tonnes
Warehouse stock for Copper at LME was at 132025mt that is down by -1150mt.
BUY COPPER AUG 2022 @ 625.00 SL 620.00 TGT 634.00-640.00.MCX
ZINC
Zinc trading range for the day is 272.1-280.1.
Zinc gains as China’s refined zinc output was 549,000 mt in June, down 4.2% year-onyear
The domestic refined zinc production in June was lower than expected mainly due to unexpected output reductions.
The global zinc market flipped to a deficit of 3,900 tonnes in May from a revised surplus of 31,000 tonnes a month earlier
Warehouse stock for Zinc at LME was at 72250mt that is down by -275mt.
BUY ZINC AUG 2022 @ 270.00 SL 266.00 TGT 276.00-280.00.MCX
NICKEL
Nickel trading range for the day is 660.8-660.8.
Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
Global nickel market sees surplus in February – INSG
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 59382mt that is down by -786mt.
SELL NICKEL AUG 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 208.6-212.8.
Aluminium rose as the market sentiment eased due to better fixed asset investment in the first half of 2022
In addition, the market has not yet heard any hawkish remarks from the US Federal Reserve, and market expectations tend to moderate
China continued to increase production as smelters recovered from last year’s aggressive energy efficiency targets and recent coronavirus-induced halts.
Warehouse stock for Aluminium at LME was at 304125mt that is down by -3925mt.
BUY ALUMINIUM AUG 2022 @ 207.00 SL 202.00 TGT 214.00-218.00.MCX
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