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COPPER

Copper trading range for the day is 760.3-784.3.

Copper prices gained as optimism over the easing of some COVID-19 restrictions in top consumer China lifted demand prospects

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.7% from a week ago.

Peru fails yet again to broker truce allowing MMG's Las Bambas mine restart

Warehouse stock for Copper at LME was at 174600mt that is down by -3950mt.

BUY COPPER MAY 2022 @ 765.00 SL 760.00 TGT 772.00-778.00.MCX

ZINC

Zinc trading range for the day is 312.7-327.7.

Zinc prices dropped on profit booking after prices ealier in the day gained as the global zinc market flips to deficit of 6,300 T in March

Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.3% from a week ago.

LME zinc inventory is still in a downward channel, and the decline in inventory has slowed down in recent days.

Warehouse stock for Zinc at LME was at 86625mt that is down by -175mt.

BUY ZINC MAY 2022 @ 317.00 SL 315.00 TGT 322.00-324.00.MCX

NICKEL

Nickel trading range for the day is 2179.6-2181.6.

Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022

Global nickel market sees surplus in February – INSG

Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphate plants may contract.

Warehouse stock for Nickel at LME was at 71898mt that is down by -330mt.

SELL NICKEL MAY 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 241.1-253.7.

Aluminium rose as the rapidly falling US dollar index relieved the market, and the expected recovering consumption in China also offered support.

Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.6% from a week ago, the exchange said.

Global aluminium output flat y – o – y at 5.599 mln T in April – IAI

Warehouse stock for Aluminium at LME was at 504275mt that is down by -7400mt.

BUY ALUMINIUM MAY 2022 @ 245.00 SL 242.00 TGT 249.00-252.00.MCX

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