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Copper

Copper trading range for the day is 654.9-708.1.

Copper prices dropped as Copper inventories rose to 84,250 tonnes, the highest since Jan. 21, in LME warehouses

Stocks were at a high level unseen since September 2020 of 163,025 tonnes in warehouses tracked by ShFE.

However downside seen limited as the US Senate approved a $1.9 trillion economic stimulus package

Warehouse stock for Copper at LME was at 85050mt that is up by 800mt.

BUY COPPER MAR 2021 @ 672.00 SL 662.00 TGT 684.00-696.00.MCX

Zinc

Zinc trading range for the day is 211.6-221.4.

Zinc prices dropped due to the rising yields of US dollar and US Treasury bonds.

China's refined zinc output stood at 471,200 mt in February, falling 71,100 mt or down 13.1% on month and up 4.03% on year.

Survey showed that China's refined zinc output in February basically met expectations.

Warehouse stock for Zinc at LME was at 268275mt that is down by -200mt.

BUY ZINC MAR 2021 @ 213.50 SL 210.00 TGT 218.00-220.50.MCX

Nickel

Nickel trading range for the day is 1118.1-1234.3.

Nickel prices dropped as Tsingshan's announcement of the supply of high-grade nickel matte has severely impacted the nickel market.

China’s refined nickel output rose 5.33%, or 692 mt, from January and 1.7% from a year earlier, to 13,700 mt in February.

China’s refined nickel output to rise to 14,200 mt in March due to longer operating days of the month.

Warehouse stock for Nickel at LME was at 260352mt that is down by -24mt.

BUY NICKEL MAR 2021 @ 1150.00 SL 1130.00 TGT 1175.00-1190.00.MCX

Aluminium

Aluminium trading range for the day is 169.7-175.1.

Aluminium prices dropped as China’s primary aluminium output rose 5.23% year on year to 3.02 million mt in February, showed survey

The US House of Representatives is expected to vote on the $1.9 trillion stimulus bill

US Treasury Secretary Yellen reiterated that stimulus measures are unlikely to lead to inflation

Warehouse stock for Aluminium at LME was at 1286825mt that is down by -6400mt.

BUY ALUMINIUM MAR 2021 @ 171.00 SL 169.00 TGT 173.50-175.00.MCX

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