Sell Aluminium Nov 2022 @ 214.00 SL 218.00 TGT 208.00-205.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 688.6-711.
Copper rose as cooler-than-expected inflation in the US lowered expectations on the extent of rate hikes by the Federal Reserve, supporting industrial demand
Prices were also supported by looming concerns of low supply
Shanghai warehouse copper stocks up 29%
Warehouse stock for Copper at LME was at 77875mt that is down by -2150mt.
SELL COPPER NOV 2022 @ 705.00 SL 710.00 TGT 697.00-694.00.MCX
ZINC
Zinc trading range for the day is 258-278.8.
Zinc rose after China eased some coronavirus rules, fuelling expectations that it will abandon a zero-COVID policy.
China's easing included shortening quarantines by two days for close contacts of infected people and for inbound travellers.
Data shows that zinc ingot social inventories across seven major markets in China totalled 60,500 mt as of November 11, up 400 mt
Warehouse stock for Zinc at LME was at 42975mt that is down by -75mt.
SELL ZINC NOV 2022 @ 273.00 SL 277.00 TGT 268.00-265.00.MCX
NICKEL
Nickel trading range for the day is 2108.7-2108.7.
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 50304mt that is down by -78mt.
SELL NICKEL NOV 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 198.2-220.6.
Aluminum rose as the market sentiment was boosted by improving macro data as well as easing pandemic control in China
China produced 3.41 million mt of aluminium in October (31 calendar days), up 7.8% YoY.
Domestic aluminium inventories have repeatedly hit new lows due to limited arrivals.
Warehouse stock for Aluminium at LME was at 549275mt that is down by -3325mt.
SELL ALUMINIUM NOV 2022 @ 214.00 SL 218.00 TGT 208.00-205.00.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
