Buy Nickel Apr 2021 @ 12OO SL 1188.00 TGT 1218.00-1230.00.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 722.6-733.
Copper prices rose boosted by prospects of higher demand alongside a global economic recovery from the Covid-19 blow.
China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing, matching market expectations.
A slew of better-than-expected US and China data last week reinforced the view of a healthy economic recovery
Warehouse stock for Copper at LME was at 159450mt that is down by -900mt.
BUY COPPER APR 2021 @ 720.00 SL 715.00 TGT 726.00-730.00.MCX
ZINC
Zinc trading range for the day is 223.7-230.9.
Zinc dropped amid increase in supply exceeded expectations as data showed that China imported 360,000 mt of zinc concentrate and 46,000 mt of refined zinc.
China kept the one-year loan prime rate (LPR) unchanged at 3.85% and five-year LPR at 4.65%.
The U.S. Federal Reserve reiterated its view that any spike in inflation was likely to be temporary.
Warehouse stock for Zinc at LME was at 293575mt that is down by -50mt.
BUY ZINC APR 2021 @ 225.50 SL 223.50 TGT 228.00-230.00.MCX
NICKEL
Nickel trading range for the day is 1203.8-1240.
Nickel recovered to gain as Russian metals producer Nornickel has improved its 2021 production forecast slightly
The global nickel market surplus expanded to 6,200 tonnes in February from a downwardly revised surplus of 3,500 tonnes in the previous month.
During the first two months of the year, the global market saw a surplus of 9,700 tonnes, down from a surplus of 29,300 tonnes in the same period of 2020.
Warehouse stock for Nickel at LME was at 264606mt that is up by 132mt.
BUY NICKEL APR 2021 @ 12OO SL 1188.00 TGT 1218.00-1230.00.MCX
ALUMINIUM
Aluminium trading range for the day is 187.7-193.1.
Aluminium gains as aluminium smelters in Xinjiang would be subject to carbon-neutrality production reductions similar to those in the Inner Mongolia
China's aluminium imports in March rose 40.8% from the previous month, data released by the General Administration of Customs showed.
China's aluminium output rose in March from a year earlier to a monthly record, official data showed
Warehouse stock for Aluminium at LME was at 1809250mt that is down by -3375mt.
BUY ALUMINIUM APR 2021 @ 188.00 SL 186.40 TGT 189.60-190.80.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
