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COPPER

Copper trading range for the day is 680.9-699.1.3

Copper prices gained as downstream demand will improve further amid a traditional high season and many copper smelters will conduct maintenance in April.

Yangshan copper premium was last at $57 a tonne, hovering around its lowest since Nov. 30, 2020

Higher Chinese imports herald coming copper scrap surge

Warehouse stock for Copper at LME was at 150325mt that is up by 6900mt.

BUY COPPER APR 2021 @ 685.50 SL 680.00 TGT 692.00-696.50.MCX

ZINC

Zinc trading range for the day is 221.5-229.7.

Zinc prices increased amid falling US dollar and US Treasury yields, and IMF raised its 2021 growth outlook for the global economy to 6%.

Treatment charges for domestic zinc concentrate continued to fall and rising production costs supported prices.

Data showed that social inventories of refined zinc ingots decreased 14,500 mt in the week ended April 2 to 233,500 mt.

Warehouse stock for Zinc at LME was at 267650mt that is down by -1000mt.

BUY ZINC APR 2021 @ 222.80 SL 221.00 TGT 225.40-227.00.MCX

NICKEL

Nickel trading range for the day is 1226.1-1281.5.

Nickel prices gained as support seen after IMF predicted that China's economy will grow by 8.4%.

The IMF raised its global growth forecast to 6% this year, the fastest growth rate in 40 years

US Treasury Secretary Yellen encouraged financial institutions to "adjust their investment portfolios and strategies" to meet climate targets

Warehouse stock for Nickel at LME was at 258612mt that is down by -786mt.

BUY NICKEL APR 2021 @ 1236.00 SL 1225.00 TGT 1248.00-1256.00.MCX

ALUMINIUM

Aluminium trading range for the day is 179.3-184.9.

Aluminium prices gained as new US infrastructure plan to boost market confidence.

The US economic data was upbeat last week, with new orders growing strongly

Upbeat PMI in China boosted bulls confidence, bolstering commodities.

Warehouse stock for Aluminium at LME was at 1860125mt that is down by -22150mt.

BUY ALUMINIUM APR 2021 @ 182.00 SL 180.50 TGT 183.80-185.40.MCX

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