Buy Zinc Jul 2021 @ 231.00 SL 229.00 TGT 233.00-235.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 711-737.
Copper prices gained as support seen after U.S. factory activity index rises to record high in June
Copper market in 19,000 tonnes deficit in Mar 2021 – ICSG
China May copper exports hit 14-month peak as traders cash in on LME price jump
Warehouse stock for Copper at LME was at 159800mt that is down by -1150mt.
SELL COPPER JUL 2021 @ 698.00 SL 705.00 TGT 790.00-786.50.MCX
ZINC
Zinc trading range for the day is 229.5-238.5.
Zinc prices gained as Euro zone business growth at 15-year high as demand unleashed
Global zinc market swings to deficit of 26,900 T in April – ILZSGb
China May zinc output +1.2% y/y at 527,000 tonnes - stats bureau
Warehouse stock for Zinc at LME was at 258600mt that is down by -1375mt.
BUY ZINC JUL 2021 @ 231.00 SL 229.00 TGT 233.00-235.00.MCX
NICKEL
Nickel trading range for the day is 1322.6-1360.8.
Nickel rose amid strong Chinese demand and near record-low inventories in warehouses tracked by ShFE.
Global nickel deficit narrows slightly in April
The market sentiment was perturbed by the news calling on Indonesian government to limit the smelting plant construction and exports of the NPI
Warehouse stock for Nickel at LME was at 235818mt that is down by -1596mt.
SELL NICKEL JUL 2021 @ 1300.00 SL 1318.00 TGT 1280.00-1264.00.MCX
ALUMINIUM
Aluminium trading range for the day is 191.7-195.3.
Aluminium pared gains on profit booking after prices gained as US Manufacturing PMI jumped to 62.6 in June of 2021 from 62.1 in May
Global aluminium output rises to 5.744 mln T in May – IAI
China May alumina output rose 11.2% year-on-year to 6.6 million tonnes - stats bureau
Warehouse stock for Aluminium at LME was at 1616325mt that is down by -7525mt.
BUY ALUMINIUM JUL 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.MCX
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