Copper trading range for the day is 701.3-723.1.
Copper prices dropped as Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.6% from a week earlier
.Goldman Sachs said copper could reach $15,000 a tonne by 2025 and raised its 12-month target to $11,000 a tonne
Citi said copper consumption could "materially overshoot our base forecasts in 2021
Warehouse stock for Copper at LME was at 165375mt that is down by -4100mt.
BUY COPPER APR 2021 @ 715.00 SL 710.00 TGT 721.00-724.50.MCX
Zinc trading range for the day is 226-231.
Zinc prices ended with losses as China’s industrial output slowed in March to 14.1%
China's first quarter GDP print slightly misses expectations
U.S. homebuilding surged to nearly a 15-year high in March
Warehouse stock for Zinc at LME was at 294800mt that is down by -1725mt.
BUY ZINC APR 2021 @ 228.80 SL 227.00 TGT 230.60-232.00.MCX
Nickel trading range for the day is 1188.5-1257.9.
Nickel prices dropped as pressure after Nickel ore inventories across all Chinese ports increased 135,000 wmt
China's refined nickel cathode output fell 4.8% in March from the previous month to 13,021 tonnes
U.S. homebuilding surged to nearly a 15-year high in March, adding to robust retail sales data the prior day, suggesting the economy was roaring.
Warehouse stock for Nickel at LME was at 262950mt that is down by -252mt.
BUY NICKEL APR 2021 @ 1230.00 SL 1218.00 TGT 1245.00-1252.00.MCX
Aluminium trading range for the day is 185.7-189.3.
Aluminum prices dropped on profit booking after data showed China’s industrial production rises less than expected
China March aluminium output hits monthly record as new capacity comes on stream
Primary aluminium output in China, was up 8.5% year-on-year at 3.28 million tonnes last month
Warehouse stock for Aluminium at LME was at 1824250mt that is down by -5075mt.
BUY ALUMINIUM APR 2021 @ 187.60 SL 185.00 TGT 190.00-191.50.MCX
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