Sell Aluminium Mar 2022 @ 284.00 SL 290.00 TGT 276.00-272.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 786-827.6.
Copper gained amid lingering worries of supply disruptions due to war in Ukraine and historically low inventories.
Copper stocks held by LME were at 68,825 tonnes, the lowest level since 2005.
Domestic copper cathode output in February stood at 835,700 mt, up 2.1% month-onmonth (MoM) and 1.7% year-on-year (YoY).
Warehouse stock for Copper at LME was at 69825mt that is down by -1550mt.
BUY COPPER MAR 2022 @ 830.00 SL 815.00 TGT 850.00-860.00.MCX
ZINC
Zinc trading range for the day is 305.1-336.7.
Zinc prices rose as China's refined zinc output stood at 458,400 mt in February, down 59,200 mt or 11.43% MoM and 2.72% YoY.
From January to February 2022, the combined refined zinc output stood at 976,000 mt, a decrease of 3.7% year on year.
High overseas natural gas and electricity prices were still at historical high, and zinc prices were dominated by estimated energy supply disruption
Warehouse stock for Zinc at LME was at 142550mt that is down by -175mt.
BUY ZINC MAR 2022 @ 326.00 SL 315.00 TGT 340.00-346.00.MCX
NICKEL
Nickel trading range for the day is 2811.1-3133.5.
Nickel dropped to release the risks after easing supply concerns, and the downstream restocked on dips.
Shanghai exchange to resume trading of some nickel futures from March 11
The London Metal Exchange intervened to calm the nickel market after prices rocketed over $100,000 a tonne.
Warehouse stock for Nickel at LME was at 77082mt that is down by -702mt
SELL NICKEL MAR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 259.7-297.9.
Aluminium rose as uncertainty over supply from Russia ramps up price volatility.
Japanese buyers premiums of $250 per tonne for April-June primary metal shipments, up 41% from the current quarter.
The latest data showing LME warehouse inventories were at 809,750 tonnes, compared to nearly 2 million tonnes in March last year.
Warehouse stock for Aluminium at LME was at 794150mt that is down by -6950mt
SELL ALUMINIUM MAR 2022 @ 284.00 SL 290.00 TGT 276.00-272.00.MCX
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