Buy Zinc Apr 2021 @ 226.80 SL 225.00 TGT 229.50-231.00.MCX - Kedia Advisory
COPPER
Copper trading range for the day is 696.2-731.2.
Copper gained as Serbia halts China-owned mine over environmental breaches
Copper semis output in March stood at 1.84 million mt.
PBOC injected a CNY 150 billion one-year medium-term lending facility (MLF) loans into the banking system
Warehouse stock for Copper at LME was at 169475mt that is down by -2550mt.
BUY COPPER APR 2021 @ 704.00 SL 699.00 TGT 710.00-714.00.MCX
ZINC
Zinc trading range for the day is 225.5-232.1.
Zinc gained as Treasury yields pulled back from last month’s surge, with investors increasingly convinced by Fed's arguments that interest rates will stay low for some time.
China exports rise at robust pace in March, imports growth highest in 4 years
Chinese zinc smelters produced 426,000 tonnes of zinc in March, up 7% year-on-year
Warehouse stock for Zinc at LME was at 296525mt that is down by -450mt.
BUY ZINC APR 2021 @ 226.80 SL 225.00 TGT 229.50-231.00.MCX
NICKEL
Nickel trading range for the day is 1206.8-1258.6.
Nickel prices fell as refined nickel imports rose YoY in January and February, imports to exceed 10,000 mt again in March.
Data showed U.S. producer prices increased more than expected in March, resulting in the largest annual gain in 9-1/2 years
Chinese Premier Li Keqiang stressed the need to strengthen market regulation of raw materials to ease cost pressures for companies
Warehouse stock for Nickel at LME was at 263202mt that is down by -24mt.
BUY NICKEL APR 2021 @ 1226.00 SL 1215.00 TGT 1240.00-1248.00.MCX
ALUMINIUM
Aluminium trading range for the day is 187-191.
Aluminium prices gained on strong demand and growing expectations that China’s supply will be limited due to carbon emission targets.
Combined aluminium inventories in LME and ShFE warehouses have fallen 4.5% since a near-three-year high level hit on March 19
US consumer price index jumped 0.6% last month, the largest gain since August 2012, after rising 0.4% in February
Warehouse stock for Aluminium at LME was at 1829325mt that is down by -4225mt.
BUY ALUMINIUM APR 2021 @ 187.00 SL 185.00 TGT 189.50-191.00.MCX
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