Buy Zinc Jun 2022 @ 313.00 SL 309.00 TGT 318.00-320.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 750.3-763.9.
Copper gains as China's economic performance will improve further in June due to policy support
Workers at Chilean state-owned Codelco, threatened to go on a company-wide strike.
China's central bank rolled over maturing medium-term policy loans, while keeping interest rates unchanged for a fifth straight month
Warehouse stock for Copper at LME was at 121525mt that is up by 1650mt.
BUY COPPER JUN 2022 @ 755.00 SL 750.00 TGT 762.00-768.00.MCX
.ZINC
Zinc trading range for the day is 310.6-321.8.
Zinc gains as support seen after China's industrial output rose 0.7% in May from a year earlier, picking up from a 2.9% decline in April
China keeps medium – term policy rate unchanged for fifth straight month
China’s refined zinc output was 515,200 mt in May, an increase of 19,700 mt or 3.97% MoM
Warehouse stock for Zinc at LME was at 80125mt that is down by -1825mt.
BUY ZINC JUN 2022 @ 313.00 SL 309.00 TGT 318.00-320.00.MCX
NICKEL
Nickel trading range for the day is 714.7-714.7.
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 69552mt that is down by -504mt.
SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 215.8-226.
Aluminium prices rose supported by dwindling inventories and strong industrial output data from China.
Aluminium stocks in LME-registered warehouses were at a 21-year low of 420,675 tonnes, compared with nearly 2 million tonnes in March 2021.
China May aluminium output up 3.1% y/y at 3.42 mln T – stats bureau
Warehouse stock for Aluminium at LME was at 416125mt that is down by -4550mt.
BUY ALUMINIUM JUN 2022 @ 216.00 SL 210.00 TGT 223.00-226.00.MCX
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