Buy Zinc Jul 2022 @ 296.00 SL 292.00 TGT 302.00-306.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 690.6-719.8.
Copper prices rose alongside a rebound in equities and hopes of more economic stimulus in top metals consumer China
China will roll out tools in its policy reserve in a timely way to cope with economic challenges, a state planner official said.
Chilean state-owned Codelco will adjust its strategy to produce more sustainable copper and meet the Andean country's growing environmental demands.
Warehouse stock for Copper at LME was at 124625mt that is down by -225mt.
BUY COPPER JUL 2022 @ 700.00 SL 694.00 TGT 708.00-712.00.MCX
ZINC
Zinc trading range for the day is 293.7-306.9.
Zinc rose as the macro sentiment has been boosted by a series of bullish news.
Zinc prices further supported by lingering supply tightness.
The NDRC said that the country is capable of dealing with changes beyond expectations in the face of the 5.5% GDP growth target.
Warehouse stock for Zinc at LME was at 81525mt that is down by -200mt.
BUY ZINC JUL 2022 @ 296.00 SL 292.00 TGT 302.00-306.00.MCX
NICKEL
Nickel trading range for the day is 687.1-687.1.
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 67320mt that is up by 384mt.
SELL NICKEL JUL 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 208.9-217.7.
Aluminium gained as aluminium ingot inventory dropped 5,000 mt to 746,000 mt with less arrivals last week.
PBoC makes biggest daily cash injection in 3 months
China's c.bank will continue to support economic recovery
Warehouse stock for Aluminium at LME was at 380675mt that is down by -4125mt.
BUY ALUMINIUM JUL 2022 @ 211.00 SL 207.00 TGT 216.00-220.00.MCX
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