Nickel trading range for the day is 1144.3-1184.3 - 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 661.9-682.5.
Copper prices seen some pressure as investors continued to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery.
Germany, Italy, France, Spain and the Netherlands have paused the rollout of AstraZeneca's vaccine
China's national economy maintained a recovery growth in January and February
Warehouse stock for Copper at LME was at 103900mt that is up by 11250mt.
BUY COPPER MAR 2021 @ 676.00 SL 666.00 TGT 686.00-694.00.MCX
Zinc
Zinc trading range for the day is 214.2-221.4.
Zinc prices dropped as pressure seen with high zinc prices and strong wait-and-see willingness in the downstream, social inventories recorded an increase again
However, downside seen limited as zinc ore shortage continued, and there was still room for further decline in domestic TC
PPI data from January to February released by the National Bureau of Statistics was better than expected
Warehouse stock for Zinc at LME was at 266400mt that is down by -375mt.
BUY ZINC MAR 2021 @ 216.50 SL 214.50 TGT 218.80-220.50.MCX
Nickel
Nickel trading range for the day is 1144.3-1184.3.
cNickel prices settled flat as the overall consumption of refined nickel market was relatively stable, and downstream restocked for rigid demand
Silkroad to supply 2.7 mln T Indonesian nickel ore to China's Tsingshan
Increased high-nickel precursor output limited decline in precursor production
Warehouse stock for Nickel at LME was at 260148mt that is down by -576mt.
BUY NICKEL MAR 2021 @ 1168.00 SL 1154.00 TGT 1184.00-1196.00.MCX
Aluminium
Aluminium trading range for the day is 171.8-176.8.
Aluminum dropped on profit booking as China’s secondary aluminium inventories increased by 10,000 mt to 1.238 million mt
Prices on LME surged to $2,227 per tonne for the first time since June 2018, on the back of production disruptions while demand continues to recover.
Meantime, recent data showed an 8.4% annual increase in Chinese aluminum production in the first two months of the year
Warehouse stock for Aluminium at LME was at 1910650mt that is down by -6075mt.
BUY ALUMINIUM MAR 2021 @ 172.00 SL 170.50 TGT 173.50-174.80.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
