Buy Zinc April 2021 @ 219.00 SL 217.00 TGT 221.00-223.00.MCX - Kedia Advisory
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COPPER
Copper trading range for the day is 676.5-700.1.
Copper prices dropped as Codelco struck a wage deal with workers at its Radomiro Tomic mine, avoiding a potential strike and easing concerns about supply
Japan's output of refined copper in the first half of the 2021/22 financial year will fall 1.9% year on year
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.9 percent from last Friday, the exchange said.
Warehouse stock for Copper at LME was at 143425mt that is down by -350mt.
BUY COPPER APR 2021 @ 686.00 SL 682.00 TGT 694.00-696.00.MCX
ZINC
Zinc trading range for the day is 219.5-226.3.
Zinc prices gained as treatment charges for domestic zinc concentrate continued to fall and rising production costs supported prices.
In addition, zinc social inventories shrank further as downstream users restocked on demand.
Data showed that social inventories of refined zinc ingots decreased 14,500 mt in the week ended April 2 to 233,500 mt.
Warehouse stock for Zinc at LME was at 268650mt that is down by -1850mt.
BUY ZINC APR 2021 @ 219.00 SL 217.00 TGT 221.00-223.00.MCX
NICKEL
Nickel trading range for the day is 1215.4-1265.6.
Nickel gains as a streak of strong U.S. economic data fueled optimism even as a smallerthan-expected climb in 10-year Treasury notes eased inflation concerns.
China services PMI jumps to 54.3 in march – Caixin
Eurozone manufacturing activity grew at its fastest pace on record in March, with IHS Markit’s final manufacturing PMI coming in at 62.5
Warehouse stock for Nickel at LME was at 259398mt that is up by 216mt.
BUY NICKEL APR 2021 @ 1222.00 SL 1210.00 TGT 1238.00-1250.00.MCX
ALUMINIUM
Aluminium trading range for the day is 177.5-183.1.
Aluminium prices gained as better-than-expected jobs data boosted economic outlook.
US non-farm employment added 916,000 in March, reaching to its highest in seven months, and unemployment rate fell to 6%.
The premiums for aluminium shipments to Japanese buyers for April to June were set at $148-$149 a tonne, up 14-15% from this quarter
Warehouse stock for Aluminium at LME was at 1882275mt that is down by -7125mt.
BUY ALUMINIUM APR 2021 @ 177.80 SL 176.40 TGT 179.50-182.00.MCX
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