Sell Aluminium Apr 2022 @ 284.00 SL 288.00 TGT 279.00-276.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 810.1-828.1.
Copper prices fell as fears of rapid interest rate rises, slowing economic growth and more sanctions on Russia dented risk appetite
Copper output in Chile, the world's largest producer, fell 7% from a year earlier to 394,700 tonnes in February.
Chinese authorities extended a lockdown in Shanghai, an industrial powerhouse and major port, further threatening global supply chains.
Warehouse stock for Copper at LME was at 94925mt that is down by -1050mt.
SELL COPPER APR 2022 @ 822.00 SL 830.00 TGT 814.00-810.00.MCX
ZINC
Zinc trading range for the day is 347.9-359.1.
Zinc prices rose as expectation of natural gas supply cut heightened, and energy issue again pushed up prices.
On-warrant inventories of zinc in LME-registered warehouses tumbled to 45,850 tonnes from more than 100,000 tonnes a week ago
Some downstream companies suspended the production after the Qingming Festival due to poor orders.
Warehouse stock for Zinc at LME was at 130425mt that is down by -3700mt.
SELL ZINC APR 2022 @ 355.00 SL 360.00 TGT 348.00-345.00.MCX
NICKEL
Nickel trading range for the day is 843.2-843.2.
Nickel rose as the nickel ore inventory at Chinese ports dipped 230,000 wmt from a week earlier to 5.887 million wmt.
Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
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 73902mt that is up by 978mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 275.4-288.2.
Aluminium rose as more supporting policies in China are expected to come into force in order to achieve the 5.5% annual growth target.
Some Japanese buyers agree Q2 aluminium premium of $172/T
China is stepping up exports of aluminium to fill a widening supply gap in Western markets.
Warehouse stock for Aluminium at LME was at 619875mt that is down by -3450mt.
SELL ALUMINIUM APR 2022 @ 284.00 SL 288.00 TGT 279.00-276.00.MCX
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