Buy Zinc Mar 2022 @ 322.50 SL 319.00 TGT 328.00-330.50.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 806.5-836.5.
Copper prices rose as risks of supply shortages amid the heightened Russia-Ukraine war lent support to prices.
The global market is already tight, with exchange stocks near 16-year lows, and a ban on Russian metal could lead to further supply disruptions.
Copper market in 92,000 tonne deficit in Dec 2021
Warehouse stock for Copper at LME was at 79975mt that is down by -125mt.
BUY COPPER MAR 2022 @ 810.00 SL 804.00 TGT 818.00-822.00.MCX
ZINC
Zinc trading range for the day is 318.7-361.5.
Zinc prices rose as market supply has been tight as a whole in light of still strict transport restrictions.
LME zinc inventory entered a downward channel again after rising to a two-and-a-halfmonth high of 209,175 mt on December 14 last year.
China's February refined zinc imports plummeted on mom and yoy basis
Warehouse stock for Zinc at LME was at 143175mt that is down by -150mt.
BUY ZINC MAR 2022 @ 322.50 SL 319.00 TGT 328.00-330.50.MCX
NICKEL
Nickel trading range for the day is 2056.9-2213.3.
Nickel prices rose as market supply has been relatively tight for lack of imported goods for quite some time.
LME nickel surged 15% to hit its upper trading limit, reversing direction and climbing for the first time since trading resumed last week.
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 73242mt that is down by -336mt.
SELL NICKEL MAR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 272-309.2.
Aluminium prices edged higher as risks of supply shortages amid the heightened RussiaUkraine conflict underpinned prices.
Global aluminium demand to reach new highs after Covid - IAI
One global aluminium producer seeks Q2 premiums of $195/T
Warehouse stock for Aluminium at LME was at 689575mt that is down by -6250mt.
BUY ALUMINIUM MAR 2022 @ 277.00 SL 274.00 TGT 282.00-285.00.MCX
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