IGI Logo

COPPER

pper prices dropped as the positive data boosted the US index to return to above 91Top consumer China posted weaker-than-expected factory growth in February after briefCOVID-19-related disruptionsWarehouse stock for Copper at LME was at 74200mt that is down by -2025mt.

SELL COPPER MAR 2021 @ 702.00 SL 706.00 TGT 698.00-694.00.MCX

ZINC

Zinc prices gained as support seen after the US House voted to approve President Joe Biden's $1.9 trillion pandemic aid. Reports that the US CDC advisory panel decided to support the use of Johnson & Johnson’s COVID-19 vaccine also lift sentiment. On the data front, the Caixin China General Manufacturing PMI unexpectedly was at a ninemonth low in FebruaryWarehouse stock for Zinc at LME was at 269725mt that is down by -50mt.

BUY ZINC MAR 2021 @ 218.00 SL 216.00 TGT 221.00-223.00.MCX

NICKEL

Nickel prices dropped as official data showed China’s manufacturing activity growth slowing in February. China’s official manufacturing Purchasing Managers’ Index (PMI) for February came in at 50.6 The strengthening of the US dollar and the worry about inflation have brought pressure on nickel prices. Warehouse stock for Nickel at LME was at 250584mt that is down by -546mt.

BUY NICKEL MAR 2021 @ 1345.00 SL 1330.00 TGT 1375.00-1390.00.MCX

ALUMINIUM

Aluminium dropped as China posted weaker-than-expected factory growth in February after brief COVID-19-related disruptions earlier in the year. China’s official manufacturing Purchasing Managers’ Index (PMI) for February came in at 50.6 over the weekend Data from the International Aluminum Institute showed aluminum production in January grew 4.3% from a year earlierWarehouse stock for Aluminium at LME was at 1316800mt that is down by -9075mt.

SELL ALUMINIUM MAR 2021 @ 171.60 SL 173.00 TGT 169.50-168.40.MCX.

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer