Sell Zinc Apr 2022 @ 355.00 SL 360.00 TGT 348.00-345.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 814-826.6
Copper prices remained supported as China will step up policy support for the economy
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 3.7 percent from last Friday, the exchange said.
Chile, saw exports of the red metal reach $4.95 billion in March
Warehouse stock for Copper at LME was at 103775mt that is up by 2500mt.
SELL COPPER APR 2022 @ 822.00 SL 830.00 TGT 814.00-810.00.MCX
ZINC
Zinc trading range for the day is 345.2-366.8.
Zinc prices rose as domestic refined zinc output totalled 501,300 mt in March, due to maintenance of some smelters.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.2 percent from last Friday, the exchange said.
Total zinc ingots inventories across seven major markets in China stood at 278,000 mt as of April 8, up 5,200 mt from April 1, down 300 mt from March 6
Warehouse stock for Zinc at LME was at 125675mt that is down by -2000mt
SELL ZINC APR 2022 @ 355.00 SL 360.00 TGT 348.00-345.00.MCX
NICKEL
Nickel trading range for the day is 821.4-821.4.
Nickel dropped on profit booking after seen supported as the nickel ore inventory at Chinese ports dipped 230,000 wmt from a week earlier to 5.887 million wmt.
Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022
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 73692mt that is down by -498mt.
SELL NICKEL APR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 272.6-282.6.
Aluminium settled flat on worries that fresh lockdowns in China and a higher interest rate environment could dent growth and demand in the metals market.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.5 percent from last Friday, the exchange said.
The premium for aluminium shipments to Japanese buyers for April to June was set at $172 a tonne, down 2.8% from the previous quarter.
Warehouse stock for Aluminium at LME was at 615750mt that is down by -4025mt.
SELL ALUMINIUM APR 2022 @ 284.00 SL 288.00 TGT 279.00-276.00.MCX
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