IGI Logo

COPPER

Copper trading range for the day is 783.5-815.3.

Copper dropped dragged down by demand concerns due to a renewed surge of Covid-19 inflections in China.

Copper stocks held by the SHFE decreased by 9,100 mt from last Friday to 206,900 mt, a slower rate than those seen in the past weeks

Chile, recorded its lowest January output since 2011, with production sinking 15% compared to December.

Warehouse stock for Copper at LME was at 78000mt that is up by 3800mt.

BUY COPPER MAR 2022 @ 800.00 SL 785.00 TGT 815.00-824.00.MCX

ZINC

Zinc trading range for the day is 305.7-325.7.

Zinc dropped as diplomatic efforts to resolve the Russia-Ukraine conflict calmed supplydisruption fears.

Demand concerns in top consumer China also weighed on the market

Rising coronavirus infections in China and the potential damage to manufacturing activity in the country have fuelled demand worries.

Warehouse stock for Zinc at LME was at 140525mt that is down by -200mt.

BUY ZINC MAR 2022 @ 316.00 SL 310.00 TGT 324.00-330.00.MCX

NICKEL

Nickel trading range for the day is 2711.9-2901.9.

Nickel recovered as the refined nickel supply was still insufficient for the demand

Shanghai exchange to resume trading of some nickel futures from March 11

The London Metal Exchange intervened to calm the nickel market after prices rocketed over $100,000 a tonne.

Warehouse stock for Nickel at LME was at 75318mt that is down by -384mt.

SELL NICKEL MAR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 261.1-286.9.

Aluminium prices slipped as progress in diplomatic efforts to resolve the Russia-Ukraine conflict calmed investor nerves, easing supply worries.

China shuts down a city of 17.5m people (Shenzen) due to COVID-19.

The production has not been affected from amid resurging pandemic has greatly constrained the logistics

Warehouse stock for Aluminium at LME was at 752850mt that is down by -3100mt

BUY ALUMINIUM MAR 2022 @ 279.00 SL 274.00 TGT 286.00-289.00.MCX

To Read Complete Report & DisclaimerClick Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer