Sell Zinc Aug 2022 @ 294.00 SL 296.50 TGT 291.50-288.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 630.2-655.4.
Copper falls as US-China tensions rises
China's factory activity contracted unexpectedly in July
Codelco, said it produced 736,000 tonnes of copper between January and June, a 7.5% fall versus the first half of 2021.
Warehouse stock for Copper at LME was at 130975mt that is down by -300mt.
SELL COPPER AUG 2022 @ 646.00 SL 650.00 TGT 641.00-638.00.MCX
ZINC
Zinc trading range for the day is 288.3-300.3.
Zinc dropped as weak factory activity data in top consumer China highlighted the suppressed demand outlook that has been weighing on the metals market.
China's July factory activity grows at slower pace - Caixin PMI
Asia's factories squeezed by higher prices, weak demand
Warehouse stock for Zinc at LME was at 68050mt that is down by -1675mt.
SELL ZINC AUG 2022 @ 294.00 SL 296.50 TGT 291.50-288.00.MCX
NICKEL
Nickel trading range for the day is 662.5-662.5.
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 57942mt that is down by -36mt.
SELL NICKEL AUG 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX
ALUMINIUM
Aluminium trading range for the day is 206.6-211.6.
Aluminum fell amid outlooks of lower demand and strong inventories in China.
Prices were under pressure as the worsening macroeconomic backdrop extended concerns of slowing demand.
In the meantime, fresh data showed that aluminum ingot inventories rose by 7 thousand tonnes on the week to 678 thousand tonnes on August 1.
Warehouse stock for Aluminium at LME was at 296650mt that is up by 8525mt.
BUY ALUMINIUM AUG 2022 @ 205.00 SL 200.00 TGT 210.00-212.00.MCX
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