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COPPER

Copper trading range for the day is 688.6-700.4.

Copper prices gained after Chile tightened its lockdown over a spike in COVID-19 infections, with several new variants circulating.

However upside seen limited amid rising inventories and falling premiums pointed to slowing demand in top consumer China.

Germany factory orders rise for 2nd monthv

Warehouse stock for Copper at LME was at 157075mt that is up by 6750mt.

BUY COPPER APR 2021 @ 692.00 SL 688.00 TGT 698.00-702.50.MCX

ZINC

Zinc trading range for the day is 224.9-233.3.

Zinc prices gained as support seen after recovery of domestic refined zinc supply missed expectations in March due to energy consumption control in Inner Mongolia.

China's refined zinc output stood at 496,900 mt in March, up 5.44% or 25,600 mt on the month and up 6.49% on the year.

Even as the US economy gathered steam this year, Federal Reserve officials remained cautious about the continuing risks of the pandemic

Warehouse stock for Zinc at LME was at 267650mt that is unchange mt.

BUY ZINC APR 2021 @ 228.50 SL 226.80 TGT 230.40-232.00.MCX

NICKEL

Nickel trading range for the day is 1253.1-1284.1.

Nickel prices gained amid falling US dollar and US Treasury yields, and IMF raised its 2021 growth outlook for the global economy to 6%.

IHS Markit’s final euro zone composite PMI showed business activity in the bloc bouncing back in March

Fed’s minutes showed the central bank committed to extending monetary policy support until an economic rebound in the United States was more secure.

Warehouse stock for Nickel at LME was at 257418mt that is down by -1194mt.

BUY NICKEL APR 2021 @ 1260.00 SL 1248.00 TGT 1275.00-1284.00.MCX

ALUMINIUM

Aluminium trading range for the day is 181.7-187.9.

Aluminium prices rose as traders worried that Chinese efforts to reduce smelter pollution will restrict output and supply will fall short of demand.

China accounts for around 60% of global aluminium output but the government is expected to curtail capacity growth

Soaring shipping costs, booming demand and tight supplies of primary and scrap aluminium are likely to fuel further price rises

Warehouse stock for Aluminium at LME was at 1860850mt that is up by 725mt.

BUY ALUMINIUM APR 2021 @ 185.00 SL 183.50 TGT 186.50-187.60.MCX

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