Sell Zinc Sep 2021 @ 246.00 SL 248.00 TGT 244.00-242.00.MCX - Kedia Advisory
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Copper
Copper trading range for the day is 702.5-717.5.
Copper prices gained as China likely to quicken fiscal spending, but policy rate cuts not on the cards
China’s factory activity contracted in August for the first time in nearly 1-1/2 years as COVID-19 mostly due to containment measures to curb rising cases of the Delta strain
Chile's state-owned Codelco, said it has reached an early collective bargaining agreement with the five unions representing workers at its key El Teniente mine.
Warehouse stock for Copper at LME was at 252400mt that is down by -325mt.
SELL COPPER SEP 2021 @ 724.00 SL 728.00 TGT 718.00-715.00.MCX
Zinc
Zinc trading range for the day is 242.3-245.9.
Zinc prices rose as new orders for U.S.-made goods rose in July
The Commerce Department said that factory orders increased 0.4% in July after advancing 1.5% in June.
U.S. worker productivity grew a bit more slowly than initially thought in the second quarter, the Labor Department said
Warehouse stock for Zinc at LME was at 236425mt that is unchange mt.
SELL ZINC SEP 2021 @ 246.00 SL 248.00 TGT 244.00-242.00.MCX
Nickel
Nickel trading range for the day is 1411.2-1455.
Nickel prices rose supported by strong demand from industrial sector and electric vehicle battery makers, amid tight supply.
Refined nickel inventories in ShFE warehouses hit a record low while stockpiles in LME warehouses fell to their lowest since January 2020.
The global nickel market deficit narrowed to 20,100 tonnes in June compared a shortfall of 23,600 tonnes in May
Warehouse stock for Nickel at LME was at 190488mt that is down by -1968mt.
BUY NICKEL SEP 2021 @ 1425.00 SL 1410.00 TGT 1440.00-1448.00.MCX
Aluminium
Aluminium trading range for the day is 209.8-216.
Aluminium prices rose as supply worries grow
Production curbs in key Chinese smelting regions sparked fears of tight supply.
India, urged utilities to import coal to boost domestic supply of the fuel as coal-fired generation surged after an easing of coronavirus-related curbs.
Warehouse stock for Aluminium at LME was at 1335300mt that is down by -1550mt.
BUY ALUMINIUM SEP 2021 @ 212.00 SL 210.00 TGT 214.00-215.80.MCX
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