Sell Nickel June 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX - Kedia Advisory
COPPER
Copper trading range for the day is 787.8-803.4.
Copper prices edged higher amid demand optimism due to the easing of COVID-19 restrictions in top consumer China and declining inventories offered support.
Beijing and commercial hub Shanghai have been returning to normal in recent days after two months of bitter isolation under a ruthless lockdown.
Chile saw exports of the red metal reach $3.76 billion in May, down 18.3% from a year earlier
Warehouse stock for Copper at LME was at 116900mt that is down by -3875mt.
BUY COPPER JUN 2022 @ 792.00 SL 787.00 TGT 798.00-802.00.MCX
ZINC
Zinc trading range for the day is 323.8-334.2.
Zinc prices gained as the supply side remained relatively tight, and cost support was also strong supported prices.
While the ambiguous recovery of the demand side in China also rattled the nerves of investors.
LME zinc inventory rebounded while Shfe zinc inventory fell slightly
Warehouse stock for Zinc at LME was at 86150mt that is down by -725mt
BUY ZINC JUN 2022 @ 325.00 SL 320.00 TGT 332.00-336.00.MCX
NICKEL
Nickel trading range for the day is 786.7-786.7.
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 70992mt that is down by -60mt.
SELL NICKEL JUN 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 231.9-242.7.
Aluminium prices gains amid demand revival hopes on China relaxing its COVID-19 curbs
Japan aluminium stocks in April down 2.9% m/m
Global aluminium producers seek Q3 premiums of $172 – $177/T in Japan talks
Warehouse stock for Aluminium at LME was at 434000mt that is down by -7725mt
BUY ALUMINIUM JUN 2022 @ 233.00 SL 230.00 TGT 238.00-242.00.MCX
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