Buy Zinc Sep 2021 @ 253.00 SL 251.00 TGT 255.00-256.50.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 709.7-739.1
Copper prices dropped as supply constraints in top producer Chile eased.
Data showed imports of unwrought copper and products into China, in August, down 7% from July and down 41% year-on-year.
Warehouse stock for Copper at LME was at 231200mt that is down by -2800mt.
BUY COPPER SEP 2021 @ 720.00 SL 714.00 TGT 726.00-730.00.MCX
Zinc
Zinc trading range for the day is 250.8-257.2.
U.S. retail sales unexpectedly increased in August
China's industrial output grew 5.3% in August from the same period a year ago, narrowing from a 6.4% increase in July Zinc prices steadied as China reiterated plans to release more metals from its reserves.
Warehouse stock for Zinc at LME was at 227550mt that is down by -1250mt
BUY ZINC SEP 2021 @ 253.00 SL 251.00 TGT 255.00-256.50.MCX
NICKEL
Nickel trading range for the day is 1439.1-1517.5.
Nickel prices dropped as demand for nickel reduced following the fall in output of stainless steel.
However the market purchase is likely to pick up in light of falling prices, and the low inventory of LME and SHFE warrants also offers support.
China’s central bank rolled over maturing medium-term loans, while keeping the interest rate unchanged for the 17th month in a row. Warehouse stock for Nickel at LME was at 173298mt that is down by -984mt.
BUY NICKEL SEP 2021 @ 1462.00 SL 1445.00 TGT 1484.00-1496.00.MCX
Aluminium
Aluminium trading range for the day is 223.7-231.5.
Aluminium dropped on profit booking after update China will release more metal reserves to ease supply.
However downside seen limited as talks of fresh output curbs in top producer and consumer China fueled concerns about supply disruptions.
EU to suspend planned tariffs on Chinese aluminium
Warehouse stock for Aluminium at LME was at 1319150mt that is up by 19250mt.
BUY ALUMINIUM SEP 2021 @ 228.00 SL 226.40 TGT 229.80-230.50.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
