Buy Zinc Jul 2022 @ 285.00 SL 280.00 TGT 292.00-298.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 684-712.4.
Copper prices fell after COVID lockdowns in China and slowing economic growth curtailed demand.
Chile copper output falls 2.7% in May – stats agency
China copper smelters set Q3 2022 TC/RC floor at $80/T, 8 cents/pound
Warehouse stock for Copper at LME was at 124275mt that is up by 450mt.
BUY COPPER JUL 2022 @ 692.00 SL 688.00 TGT 700.00-704.00.MCX
ZINC
Zinc trading range for the day is 277-304.8.
Zinc dropped amid rising US dollar index after hawkish speeches of the US Fed still aroused bearish sentiment.
In addition, backwardation of LME cash-to-three-month contract narrowed, indicating lower short squeeze risks.
Global zinc market flips to surplus of 10,900 T in April – ILZSG
Warehouse stock for Zinc at LME was at 81075mt that is unchange mt.
BUY ZINC JUL 2022 @ 285.00 SL 280.00 TGT 292.00-298.00.MCX
NICKEL
Nickel trading range for the day is 681.1-681.1.
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 66780mt that is down by -336mt.
SELL NICKEL JUL 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 204.4-214.2.
Aluminium dropped amid muted demand and soaring production.
Aluminium ingot social inventory totalled 734,000 mt as of June 30, down 17,000 mt from last Thursday
Aluminium billet inventory fell 5,200 mt from last Thursday to 106,400 mt as of June 30, and added 2,700 mt from this Monday.
Warehouse stock for Aluminium at LME was at 373275mt that is down by -3650mt.
BUY ALUMINIUM JUL 2022 @ 205.00 SL 200.00 TGT 212.00-216.00.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
