Buy Zinc Oct 2022 @ 262.00 SL 258.00 TGT 267.00-270.00.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 640.5-660.7.
Copper dropped amid demand uncertainty due to China's stance on COVID-19 curbs and worries around global economic growth
Stocks at warehouses of LME, COMEX, ShFE and Shanghai-bonded warehouses totalled 253,000 tonnes last week, a weekly drop of 12,000 tonnes
Total copper production in Chile, fell 10.2% in August to 415,500 tonnes
Warehouse stock for Copper at LME was at 142950mt that is down by -2700mt
BUY COPPER OCT 2022 @ 646.00 SL 642.00 TGT 652.00-656.00.MCX
ZINC
Zinc trading range for the day is 259.5-273.1.
Zinc dropped as US inflation data aggravated the expectations of a 75bp rate hike in November, triggering worries over economic downturn.
China Keeps 1-Year MLF Rate at 2.75%
China showed 'significant' Q3 rebound but faces challenges – state planner
Warehouse stock for Zinc at LME was at 51350mt that is down by -150mt.
BUY ZINC OCT 2022 @ 262.00 SL 258.00 TGT 267.00-270.00.MCX
NICKEL
Nickel trading range for the day is 624.7-624.7.
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 53688mt that is up by 990mt.
SELL NICKEL OCT 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 194-206.8.
Aluminium prices dropped as inventories in LME warehouses jumped, fuelling fears of unwanted Russian origin metal in the LME system.
China's economy showed a significant recovery in the third quarter and employment is generally stable
Metal industry sources say there is concern that Rusal will be unable to sell its metal and will deliver it into the LME system
Warehouse stock for Aluminium at LME was at 433025mt that is up by 65825mt.
BUY ALUMINIUM OCT 2022 @ 197.00 SL 194.00 TGT 202.00-205.00.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
Top News
Government urges public sector banks to expedite target achievement for current fiscal unde...
Tag News
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...
