Buy Zinc JAN 2023 @ 267.00 SL 264.00 TGT 270.00-272.00.MCX - kedia Advisory
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Copper
Copper trading range for the day is 704.9-734.5.
Copper dropped as a surge in domestic Covid cases kept sentiment under pressure
China current account surplus revised slightly higher
China manufacturing shrinks the most in 3 months
Warehouse stock for Copper at LME was at 88550mt that is up by 3150mt.
BUY COPPER JAN 2023 @ 712.00 SL 708.00 TGT 718.00-722.00.MCX
Zinc
Zinc trading range for the day is 266.4-273.4.
Zinc dropped as an overall stronger dollar, worsening COVID-19 situation in China, andglobal economic slowdown worries weighed on industrial metals
LME warehouse stocks of the galvanising metal total 36,525 tonnes, the lowest amountthis century.
Global refined zinc output fell by 3.2% in January-October, according to the ILZSG,matching the drop-off in usage
Warehouse stock for Zinc at LME was at 30475mt that is down by -1550mt.
BUY ZINC JAN 2023 @ 267.00 SL 264.00 TGT 270.00-272.00.MCX
Nickel
Nickel trading range for the day is 869.2-869.2.
Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at410,000 in 2022
Global nickel market sees surplus in February – INSG
Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphateplants may contract
Warehouse stock for Nickel at LME was at 55380mt that is up by 288mt.
SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
Aluminium
Aluminium trading range for the day is 200.7-212.3.
Aluminum dropped as the rapid spread of coronavirus infections and contracting factoryactivities China heightened traders' concerns of tepid demand.
China's official PMI showed factory activity shrank for the third straight month inDecember
China cbank says will keep liquidity reasonably ample
Warehouse stock for Aluminium at LME was at 447250mt that is up by 6800mt.
BUY ALUMINIUM JAN 2023 @ 203.00 SL 201.00 TGT 206.00-208.00.MCX
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