Buy Zinc Jun 2022 @ 332.00 SL 327.00 TGT 340.00-345.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 765.7-830.3.
Copper rose buoyed by low inventories and prospects of higher demand following the ease of some Covid-19 curbs in top consumer China.
China’s key commercial hub of Shanghai allowed all manufacturers to resume operations from June.
China central bank to step up policy implementation to support economy
Warehouse stock for Copper at LME was at 145950mt that is down by -3250mt.
BUY COPPER JUN 2022 @ 802.00 SL 795.00 TGT 812.00-820.00 MCX
ZINC
Zinc trading range for the day is 327.3-342.9.
Zinc prices rose amid easing pandemic situation and improving China manufacturing PMI.
China central government is also detailing supporting policies, boosting market sentiment.
China central bank to step up policy implementation to support economy
Warehouse stock for Zinc at LME was at 83575mt that is down by -1100mt.
BUY ZINC JUN 2022 @ 332.00 SL 327.00 TGT 340.00-345.00.MCX
NICKEL
Nickel trading range for the day is 768-768.
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 71472mt that is down by -246mt
SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 229.3-237.5.
Aluminium rose as the lifting of COVID-19 restrictions in top metals consumer China buoyed hopes of demand recovery.
Aluminum smelters in Europe continue to curtail production due to high energy costs, which was exacerbated by the Russian invasion of Ukraine.
China's aluminium production in April hit a record high after curbs on power production eased, with the country becoming a net exporter of the metal
Warehouse stock for Aluminium at LME was at 453875mt that is down by -5000mt
BUY ALUMINIUM JUN 2022 @ 231.00 SL 227.00 TGT 238.00-242.00.MCX
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