Sell Zinc Feb 2021 @ 212.50 SL 214.50 TGT 210.00-208.60.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
COPPER
Copper trading range for the day is 630.9-641.7.
Copper prices fell as data showed soft U.S. inflation while trading was tepid during a major holiday in top consumer China.
U.S. consumer prices rose moderately in January, tempering expectations for a sustained acceleration in inflation this year.
China's major copper smelters cut output by 10.5% month-on-month in January after racing to meet annual targets in December
Warehouse stock for Copper at LME was at 73500mt that is down by -1175mt.
BUY COPPER FEB 2021 @ 616.00 SL 612.00 TGT 622.00-626.00.MCX
ZINC
Zinc trading range for the day is 214.2-226.
Zinc gained as Chinese zinc smelters boosted output by 5.9% year-on-year to 484,000 tonnes in January
Spot charges paid to smelters to process zinc concentrate plunged more than 70% in 2020 as coronavirus curbs tightened mine supply
China’s factory gate prices rose in annual terms in January for the first time in 12 months and at the fastest rate since May 2019
Warehouse stock for Zinc at LME was at 287050mt that is down by -1800mt.
SELL ZINC FEB 2021 @ 212.50 SL 214.50 TGT 210.00-208.60.MCX
NICKEL
Nickel trading range for the day is 1341.3-1365.1.
Nickel prices pared gains as investors kept tapping the brakes on runs in prices after taking in tepid U.S. inflation data
China's refined nickel cathode output fell 7.8% year-on-year to 12,981 tonnes in January
China’s refined nickel output to fall to 12,000 mt in February 2021 due to shorter operating days of the month.
Warehouse stock for Nickel at LME was at 249846mt that is up by 1182mt.
BUY NICKEL FEB 2021 @ 1316.00 SL 1305.00 TGT 1328.00-1338.00.MCX
ALUMINIUM
Aluminium trading range for the day is 166.3-168.7.
Aluminium prices remained supported as consumption shrank, and the demand for capital hedging should continue to be monitored
China’s factory gate prices rose in annual terms in January for the first time in 12 months and at the fastest rate since May 2019.
The producer price index (PPI) rose 0.3% from a year earlier, the National Bureau of Statistics said in a statement
Warehouse stock for Aluminium at LME was at 1384625mt that is down by -5350mt.
BUY ALUMINIUM FEB 2021 @ 164.20 SL 162.80 TGT 165.60-166.40.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
