Buy Zinc Oct 2021 @ 252.00 SL 250.00 TGT 254.00-255.60.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 701.7-732.7.
Copper prices rose as the US dollar fell and amid concerns over power outages in China.
Global copper smelting activity rebounds in September
Chinese data showed that warehouse stocks fell to the lowest level since June 2009
Warehouse stock for Copper at LME was at 216725mt that is down by -450mt.
BUY COPPER OCT 2021 @ 706.00 SL 702.00 TGT 714.00-716.50.MCX
ZINC
Zinc trading range for the day is 252.5-259.5.
Zinc prices gained as support seen after Japan's Mitsui Mining expects 2.2% drop in H2 zinc output
Japan's Toho Zinc plans 1.9% increase in H2 zinc output
Total zinc inventories across seven Chinese markets stood at 119,800 mt as of September 30, down 11,500 mt from September 27
Warehouse stock for Zinc at LME was at 203450mt that is down by -2300mt.
BUY ZINC OCT 2021 @ 252.00 SL 250.00 TGT 254.00-255.60.MCX
NICKEL
Nickel trading range for the day is 1377-1413.6.
Nickel prices remained supported as new orders for U.S.-made goods accelerated in August
The difference between LME cash nickel and the three-month contract flipped to a discount of $1 a tonne after staying in premium since Aug. 25
Companies have cut output due to the impact of the domestic power rationing, leading to weak downstream stockpiling
Warehouse stock for Nickel at LME was at 155244mt that is down by -990mt.
BUY NICKEL OCT 2021 @ 1382.00 SL 1368.00 TGT 1400.00-1414.00.MCX
ALUMINIUM
Aluminium trading range for the day is 227.1-235.9.
Aluminium gained boosted by strong demand and large shortages created by China imposing production curbs on high-polluting industries
An alumina refinery in Jamaica that was damaged by fire and shut down in August is not expected to be back at 100% production for another year
National Food and Strategic Reserves Administration has decided to release the fourth batch of national reserves with an amount of 70,000 mt of aluminium
Warehouse stock for Aluminium at LME was at 1218775mt that is down by -10925mt.
BUY ALUMINIUM NOV 2021 @ 227.60 SL 225.50 TGT 230.00-231.50.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
