Buy Zinc OCT 2021 @ 300.00 SL 296.00 TGT 305.00-308.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 741.2-808.8.
Copper prices fell as a short squeeze on the LME eased and attention refocused on the threat of slowing demand in top consumer China
On-warrant copper stocks in LME-registered warehouses at 18,250 tonnes remain near multi-decade lows.
PBoC Injects CNY 100 Billion for 2nd Day
Warehouse stock for Copper at LME was at 165925mt that is down by -6100mt.
BUY COPPER OCT 2021 @ 790.00 SL 780.00 TGT 802.00-808.00.MCX
ZINC
Zinc trading range for the day is 269.3-311.9.
Zinc prices dropped rattled by concerns over tightening regulations on the commodities market in China.
South Korea’s Young Poong (YP) smelter will be closed from Nov. 8 – 17 as it violates the water environmental protection regulation.
U.S. existing home sales surge to 8-month high in September
Warehouse stock for Zinc at LME was at 199925mt that is down by -1025mt.
BUY ZINC OCT 2021 @ 300.00 SL 296.00 TGT 305.00-308.00.MCX
NICKEL
Nickel trading range for the day is 1483.4-1676.6.
Nickel prices fell amid fresh worries about the weakening Chinese property sector as a possible default by China Evergrande looms within days.
China's imports of nickel ore and nickel pig iron fell 1.6% and 12.3%, respectively, on a monthly basis in September
Bad weather could hit 2021 Philippine nickel output
Warehouse stock for Nickel at LME was at 142788mt that is down by -714mt.
BUY NICKEL OCT 2021 @ 1610.00 SL 1590.00 TGT 1635.00-1650.00.MCX
ALUMINIUM
Aluminium trading range for the day is 219.9-257.1.
Aluminum slipped as Chinese authorities took actions to ease an energy crisis that has been behind significant production and supply disruptions.
On the supply side, places like Xinjiang may experience a new wave of production reduction, leading to a decrease in the aluminium operating capacity.
China imported around 252,900 tons of unwrought aluminum and aluminum products in September this year, rising by 2.2%
Warehouse stock for Aluminium at LME was at 1092600mt that is down by -5700mt.
BUY ALUMINIUM OCT 2021 @ 246.50 SL 244.00 TGT 250.00-252.50.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
