Buy Zinc Mar 2022 @ 318.00 SL 315.00 TGT 322.00-326.00.MCX - Kedia Advisory
COPPER
Copper trading range for the day is 807.3-823.9.
Copper prices rose as supply worries reemerged in Peru
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 19.9 percent from last Friday
China Jan – Feb refined copper output jumps 4.5% y/y
Warehouse stock for Copper at LME was at 79500mt that is up by 1900mt.
BUY COPPER MAR 2022 @ 814.00 SL 808.00 TGT 820.00-824.00.MCX
ZINC
Zinc trading range for the day is 316.9-323.1.
Zinc gains as the market supply has been tightened due to repeating COVID in China that disturbed the logistics to some extent.
Total zinc inventories across seven markets stood at 276,200 mt as of Friday March 18, down 9,000 mt from March 11
The global zinc market deficit narrowed to 37,300 tonnes in December from a revised shortfall of 43,100 tonnes a month earlier
Warehouse stock for Zinc at LME was at 143325mt that is down by -700mt.
BUY ZINC MAR 2022 @ 318.00 SL 315.00 TGT 322.00-326.00.MCX
NICKEL
Nickel trading range for the day is 2346.3-2562.3.
Nickel dropped as diplomatic efforts to resolve the Russia-Ukraine conflict calmed supplydisruption fears
Demand concerns in top consumer China also weighed on the market.
The refined nickel supply was still insufficient for the demand last week.
Warehouse stock for Nickel at LME was at 74274mt that is down by -414mt.
SELL NICKEL MAR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 268-278.
Aluminium prices edged higher as supply risks lingered with talks between Russia and Ukraine showing no signs of material progress
Market sentiment was also buoyed by hopes of more economic support in top consumer China.
China Jan – Feb aluminium imports fall 26.2% on year
Warehouse stock for Aluminium at LME was at 715225mt that is down by -9475mt.
BUY ALUMINIUM MAR 2022 @ 270.00 SL 265.00 TGT 276.00-278.00.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