Sell Nickel Jun 2021 @ 1300.00 SL 1318.00 TGT 1280.00-1264.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 691.8-722.6.
Copper prices gained after update that the global world refined copper market showed a 19,000 tonnes deficit in March
China to release 20,000 mt of copper reserves
China May copper exports hit 14-month peak as traders cash in on LME price jump
Warehouse stock for Copper at LME was at 160950mt that is down by -100mt
SELL COPPER JUN 2021 @ 698.00 SL 705.00 TGT 790.00-786.50.MCX
ZINC
Zinc trading range for the day is 229.9-235.5.
Zinc prices recovered all losses to setle flat as the global zinc market moved into a deficit of 26,900 tonnes in April
China to release 30,000 mt of zinc reserves
China May zinc output +1.2% y/y at 527,000 tonnes - stats bureau
Warehouse stock for Zinc at LME was at 259975mt that is down by -575mt
BUY ZINC JUN 2021 @ 231.00 SL 229.00 TGT 233.00-235.00.MCX
NICKEL
Nickel trading range for the day is 1296.5-1344.7.
Nickel rose amid strong Chinese demand and near record-low inventories in warehouses tracked by ShFE.
The global nickel market deficit narrowed to 15,600 tonnes in April from a shortfall of 17,100 tonnes in March
During the first four months of the year, the nickel market saw a deficit of 34,900 tonnes compared with a 48,000 tonnes surplus in the same period last year
Warehouse stock for Nickel at LME was at 237414mt that is down by -264mt.
SELL NICKEL JUN 2021 @ 1300.00 SL 1318.00 TGT 1280.00-1264.00.MCX
ALUMINIUM
Aluminium trading range for the day is 188.2-193.6.
Aluminium prices dropped as Global primary aluminium output rose to 5.744 million tonnes in May from revised 5.543 million tonnes in April
China to release 50,000 mt of aluminium reserves
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 1623850mt that is up by 10950mt.
BUY ALUMINIUM JUN 2021 @ 196.00 SL 194.00 TGT 198.60-200.00.MCX
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