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Published on 21/05/2019 10:12:22 AM | Source: Kedia Commodity Ltd

Sell Copper Jun 2019 @ 426.00 SL 429.00 TGT 423.00-420.00.MCX - Kedia Commdities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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Copper

Copper trading range for the day is 416.7-428.3.

Copper prices dropped as investors remained wary about the intensifying U.S.-China trade war.

Prices remained under pressure after an increase as the US dollar rose on the escalated US-China trade dispute.

The Chinese yuan weakened to near the key 7-per-dollar level, and a defence of the 7 level would underpin copper prices.

Warehouse stock for Copper at LME was at 188725mt that is down by -1825mt.

SELL COPPER JUN 2019 @ 426.00 SL 429.00 TGT 423.00-420.00.MCX


Zinc

Zinc trading range for the day is 209.5-216.7.

Zinc dropped as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.

Rising zinc stocks at LME warehouses and expectations of increased output by Chinese smelters have pulled down prices of the metal.

China’s scrap metal importers expect disruptions in shipments to start this month because of uncertainty surrounding new scrap restrictions starting in July

Warehouse stock for Zinc at LME was at 104850mt that is down by -450mt.

SELL ZINC MAY 2019 @ 213.50 SL 215.00 TGT 212.00-210.50.MCX


Nickel

Nickel trading range for the day is 823.1-847.1.

Nickel prices dropped after an increase as the US dollar rose on the escalated US-China trade dispute.

The Chinese yuan weakened to near the key 7-per-dollar level, and a defence of the 7 level would underpin prices.

Global demand for nickel is expected to increase to 2.46 million tonnes in 2019 versus 2.33 million in 2018, the International Nickel Study Group said.

Warehouse stock for Nickel at LME was at 164100mt that is down by -300mt.

SELL NICKEL MAY 2019 @ 840.00 SL 848.00 TGT 832.00-824.00.MCX

 

Aluminium

Aluminium trading range for the day is 143-149.8.

Aluminium dropped as demand will further weaken as the auto market struggles to clear inventories of modals under old emission standards.

Prices also seen pressure as the US reached a deal to lift steel and aluminium tariffs on Canada and Mexico.

With less than two months to go before some Chinese provinces and cities implement tougher vehicle emission standards.

Warehouse stock for Aluminium at LME was at 1231200mt that is down by -8775mt.

SELL ALUMINIUM MAY 2019 @ 149.50 SL 151.00 TGT 147.80-146.00.MCX

 

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