Buy Zinc Apr 2021 @ 227.00 SL 224.00 TGT 230.00-232.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 705.5-739.7.
Copper prices gained as the continued economic recovery has warmed up market sentiment
China's state planner expects the Consumer Price Index (CPI) to grow mildly this year and remain within the official target
The annualized total number of housing starts in the United States exceeded expectations.
Warehouse stock for Copper at LME was at 163050mt that is down by -2325mt.
BUY COPPER APR 2021 @ 720.00 SL 716.00 TGT 726.00-730.00.MCX
ZINC
Zinc trading range for the day is 226.5-232.9.
Zinc prices gained as weaker US dollar and US Treasury yields and US new housing starts in March that registered a new high in 15 years supported prices.
Resumption across domestic zinc mines and the arrival of imported zinc concentrate will ease domestic tight supply of zinc concentrate.
Zinc social inventories shrank 8,100 mt on week
Warehouse stock for Zinc at LME was at 294025mt that is down by -775mt.
BUY ZINC APR 2021 @ 227.00 SL 224.00 TGT 230.00-232.00.MCX
NICKEL
Nickel trading range for the day is 1199.7-1237.7.
Nickel prices gained as the dollar fell to a four-week low, still smarting from a sharp drop in U.S. Treasury yields
Investors increasingly bought into the Federal Reserve’s insistence it would keep an accommodative policy stance for a while longer.
Euro zone inflation ramped up in March, with consumer prices across the bloc rising 0.9% month-on-month, driven primarily by services and energy.
Warehouse stock for Nickel at LME was at 262764mt that is down by -186mt.
BUY NICKEL APR 2021 @ 1230.00 SL 1218.00 TGT 1245.00-1252.00.MCX
ALUMINIUM
Aluminium trading range for the day is 186-191.2.
Aluminium prices gained as social inventories of primary aluminium across eight consumption areas in China, declined 45,000 mt to 1.18 million mt
China's aluminium imports in March rose 40.8% from the previous month, data released by the General Administration of Customs showed.
China brought in record volumes of the metal last year as strong demand took Shanghai prices higher than London prices.
Warehouse stock for Aluminium at LME was at 1819625mt that is down by -4625mt.
BUY ALUMINIUM APR 2021 @ 187.60 SL 185.00 TGT 190.00-191.50.MCX
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