Sell Copper Jul 2021 @ 698.00 SL 705.00 TGT 790.00-786.50.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 712.2-731.8.
Copper prices dropped paring gains as stocks of copper in Shanghai bonded areas increased on larger arrivals for the second consecutive week.
Copper market in 19,000 tonnes deficit in Mar 2021 – ICSG
China May copper exports hit 14-month peak as traders cash in on LME price jump
Warehouse stock for Copper at LME was at 210975mt that is up by 18000mt.
SELL COPPER JUL 2021 @ 698.00 SL 705.00 TGT 790.00-786.50.MCX
ZINC
Zinc trading range for the day is 232.4-238.
Zinc dropped on profit booking after price seen supported as Biden stated that the two parties agreed on the infrastructure plan
Global zinc market swings to deficit of 26,900 T in April – ILZSG
China May zinc output +1.2% y/y at 527,000 tonnes - stats bureau
Warehouse stock for Zinc at LME was at 257450mt that is down by -550mt.
BUY ZINC JUL 2021 @ 231.00 SL 229.00 TGT 233.00-235.00.MCX
NICKEL
Nickel trading range for the day is 1361.6-1393.6.
Nickel prices gained as Russian Economy Minister Reshetnikov’s proposal to impose tariffs on nickel starting from August 1.
S&P affirms China ratings, says China to maintain robust GDP growth
Global nickel deficit narrows slightly in April
Warehouse stock for Nickel at LME was at 234576mt that is down by -324mt.
SELL NICKEL JUL 2021 @ 1300.00 SL 1318.00 TGT 1280.00-1264.00.MCX
ALUMINIUM
Aluminium trading range for the day is 191.8-197.8.
Aluminium gains after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal valued at $1.2 trillion over eight years
Global aluminium output rises to 5.744 mln T in May – IAI
China May alumina output rose 11.2% year-on-year to 6.6 million tonnes - stats bureau
Warehouse stock for Aluminium at LME was at 1596450mt that is down by -12650mt.
BUY ALUMINIUM JUL 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.MCX
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