320-x-100_uti_gold.jpg" alt="Advertisement">
Buy Copper Apr 2021 @ 694.00 SL 688.00 TGT 702.00-706.00.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
COPPER
Copper trading range for the day is 692.1-714.1.
Copper prices gained as support seen after China's exports grew at a robust pace in March in yet another boost to the nation's economic recovery as global demand picks up
Inventories in LME-approved warehouses hit 165,625 tonnes, their highest since Nov. 11.
While stockpiles in warehouses tracked by ShFE have been hovering around their 11- month high.
Warehouse stock for Copper at LME was at 172025mt that is up by 3525mt.
BUY COPPER APR 2021 @ 694.00 SL 688.00 TGT 702.00-706.00.MCX
ZINC
Zinc trading range for the day is 223.4-230.4.
Zinc prices gains as support after decline in yields of 10-year US Treasury dragged down the US dollar to a two-week low.
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 296975mt that is down by -1050mt.
BUY ZINC APR 2021 @ 223.00 SL 221.00 TGT 225.50-226.40.MCX
NICKEL
Nickel trading range for the day is 1216.1-1253.7.
Nickel prices gained as support seen as Nornickel to boost output of nickel products in Finland for EV battery market
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 263226mt that is up by 5754mt.
BUY NICKEL APR 2021 @ 1216.00 SL 1202.00 TGT 1230.00-1242.00.MCX
ALUMINIUM
Aluminium trading range for the day is 185.6-189.8.
Aluminium prices rose with the Shanghai contract hitting a near 10-year high on fears that top producer China will limit output to meet its environmental targets.
There were market talks that China's Xinjiang region will limit output of aluminium, an energy intensive industry, as the country strived to curb pollution
Combined aluminium inventories in LME and ShFE warehouses have fallen 4.5% since a near-three-year high level hit on March 19
Warehouse stock for Aluminium at LME was at 1833550mt that is down by -8025mt.
BUY ALUMINIUM APR 2021 @ 185.50 SL 183.50 TGT 187.50-188.80.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
