Buy Zinc JAN 2022 @ 293.00 SL 291.00 TGT 295.50-297.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 745.9-769.5.
Copper rose as PBOC announced to lower the one-year and five-year LPR by 10 basis points and 5 basis points respectively to 3.7% and 4.6%.
China's refined copper production rose 7.4% year-on-year in 2021, exceeding 10 million tonnes for the second straight year
China's imports of unwrought copper and copper products slipped in 2021 from the previous year's record
Warehouse stock for Copper at LME was at 98725mt that is down by -25mt.
BUY COPPER JAN 2022 @ 745.00 SL 740.00 TGT 752.00-756.00.MCX
ZINC
Zinc trading range for the day is 292.1-304.9.
Zinc rose as demand of domestic market sustained, and strong overseas demand also supported prices.
China December zinc output down 4.5% to 577,000 tonnes
China cuts mortgage reference rate for first time in nearly two years
Warehouse stock for Zinc at LME was at 172375mt that is down by -3150mt.
BUY ZINC JAN 2022 @ 293.00 SL 291.00 TGT 295.50-297.00.MCX
NICKEL
Nickel trading range for the day is 1705.9-1863.7.
Nickel rose as low inventories propelled prices with future demand expected to rocket
Potential sanctions on Russia spark supply worries
Long-term electric vehicle demand underpins nickel prices
Warehouse stock for Nickel at LME was at 94830mt that is unchange mt.
BUY NICKEL JAN 2022 @ 1714.00 SL 1695.00 TGT 1738.00-1750.00.MCX
ALUMINIUM
Aluminium trading range for the day is 237.2-250.4.
Aluminium prices gained on optimism over future demand from top consumer China.
China December alumina output up 1.1% at 6.24 million tonnes
On the supply side, the operating aluminium capacity was still low, despite increases in Yunnan and Shanxi
Warehouse stock for Aluminium at LME was at 873650mt that is down by -5100mt.
BUY ALUMINIUM JAN 2022 @ 239.50 SL 237.50 TGT 241.50-243.00.MCX
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