Buy Zinc Nov 2022 @ 257.00 SL 254.00 TGT 261.00-264.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Copper
Copper trading range for the day is 666.1-701.7.
Copper rose as cooler-than-expected inflation in the US lowered expectations on theextent of rate hikes by Fed, supporting industrial demand
China's factory gate prices for October dropped for the first time since December 2020
Despite a fall in copper inventories in LME, the premium for cash copper over the three-month LME contract has fallen to around $10 a tonne
Warehouse stock for Copper at LME was at 80025mt that is down by -950mt.
BUY COPPER NOV 2022 @ 682.00 SL 677.00 TGT 687.00-692.00.MCX
ZINC
Zinc trading range for the day is 253.1-266.1.
Zinc settled flat as refined zinc output is expected to add 23,200 mt in November, and risefurther in December
Data showed that the China refined zinc output in October fell slightly short of expectationand stood at 514,100 mt
Glencore produced 18% less zinc in the first nine months compared with the same perioda year before
Warehouse stock for Zinc at LME was at 43050mt that is down by -575mt.
BUY ZINC NOV 2022 @ 257.00 SL 254.00 TGT 261.00-264.00.MCX
NICKEL
Nickel trading range for the day is 2075-2075.
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 50382mt that is down by -30mt.
SELL NICKEL NOV 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 196.4-207.2.
Aluminium settled flat as investors weighed on the worsening macroeconomic backdrop in top consumer China against expectations of lower supply.
The operating aluminium capacity in Sichuan picked up slowly, but is unlikely to reach full capacity before the end of the year in the dry season.
Aluminium ingot inventory fell constantly on delayed arrivals.
Warehouse stock for Aluminium at LME was at 552600mt that is down by -6225mt.
BUY ALUMINIUM NOV 2022 @ 200.00 SL 197.00 TGT 204.00-206.00.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
