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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

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