Sell Copper Apr 2022 @ 820.00 SL 830.00 TGT 810.00-806.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 803.6-831.2.
Copper dropped as coronavirus-induced lockdowns in top consumer China sparked concerns about demand.
Pressuring prices further were recent data showing that copper inventories in LMEapproved warehouses rose to the highest level since October
China's central bank urged financial institutions to step up support for the contactintensive service sector and small firms affected by the COVID-19 pandemic
Warehouse stock for Copper at LME was at 128775mt that is up by 9950mt
SELL COPPER APR 2022 @ 820.00 SL 830.00 TGT 810.00-806.00.MCX
ZINC
Zinc trading range for the day is 363.8-384.
Zinc dropped as the market digested the IMF’s lowering of global economic growth in 2022.
China imported 21,343 mt of refined zinc in March
The People's Bank of China kept its benchmark interest rates unchanged for corporate and household loans at its April fixing.
Warehouse stock for Zinc at LME was at 108850mt that is down by -4900mt.
SELL ZINC APR 2022 @ 376.00 SL 380.00 TGT 370.00-366.50.MCX
NICKEL
Nickel trading range for the day is 2485.5-2555.5.
Nickel gained Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
However upside seen limited amid demand worries due to continued COVID-19 lockdowns in China weighed on the metals.
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 72894mt that is up by 360mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 264.7-272.7.
Aluminum dropped as weak demand in China and Japan overshadowed worries of supply disruptions from Russia.
China's March alumina exports to Russia soar as sanctions over Ukraine bite
Global aluminium output falls 1.55% in March year on year, IAI says
Warehouse stock for Aluminium at LME was at 592175mt that is down by -11475mt.
SELL ALUMINIUM APR 2022 @ 271.00 SL 274.50 TGT 267.50-265.00.MCX
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