Buy Copper MAR 2021 @ 672.00 SL 662.00 TGT 684.00-696.00.MCX
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Copper
Copper trading range for the day is 671.2-709.6.
Copper prices gains on expectations of a faster economic recovery and higher capital inflows into markets
China Jan – Feb copper imports rise 5% y/y despite price spike
Citi raises Q2 2021 copper price forecast to $10,000/t
Warehouse stock for Copper at LME was at 84250mt that is up by 5225mt.
BUY COPPER MAR 2021 @ 672.00 SL 662.00 TGT 684.00-696.00.MCX
Zinc
Zinc trading range for the day is 214.7-221.9.
Zinc gains combined with the expectation that the US House of Representatives is expected to pass the US$ 1.9 trillion stimulus bill
China's refined zinc output fell 13.1% on the month to 471,200 mt in February
Zinc treatment charges that miners pay to smelters to refine concentrate are expected to fall to $200 a tonne for 2021 from $300 a year ago
Warehouse stock for Zinc at LME was at 268475mt that is down by -300mt.
BUY ZINC MAR 2021 @ 213.50 SL 210.00 TGT 218.00-220.50.MCX
Nickel
Nickel trading range for the day is 1165.8-1220.4.
Nickel prices gained as investors reacted to US jobs report that trounced expectations and fueled hopes for a faster economic recovery.
China’s nickel sulphate output declined 5.86% from January but surged 132.91% on the year, to 68,500 mt
China’s nickel sulphate output to increase 15.19% from February and 65.22% from a year ago to 17,400 mt Ni in March
Warehouse stock for Nickel at LME was at 260376mt that is unchange mt.
BUY NICKEL MAR 2021 @ 1150.00 SL 1130.00 TGT 1175.00-1190.00.MCX
Aluminium
Aluminium trading range for the day is 170.9-179.5.
Aluminium prices dropped as inflation expectations and strong nonfarm data have further provided momentum for the dollar to rise.
China's exports of unwrought aluminium and products, rose 25.9% in the JanuaryFebruary period to 842,125 tonnes.
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, rose 91,000 mt
Warehouse stock for Aluminium at LME was at 1293225mt that is down by -5925mt.
BUY ALUMINIUM MAR 2021 @ 171.00 SL 169.00 TGT 173.50-175.00.MCX
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