320-x-100_uti_gold.jpg" alt="Advertisement">
Sell Zinc Apr 2021 @ 227.50 SL 229.50 TGT 225.50-223.60.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 678.8-692.6.
Copper prices fell after China's premier said the country will strengthen control of commodities prices that have hurt businesses.
Chinese Premier Li Keqiang stressed the need to strengthen market regulation of raw materials to ease the cost pressure of enterprises.
Yangshan copper premium fell to $51 a tonne, its lowest since Nov. 20, while inventories in LME and ShFE warehouses remained elevated.
Warehouse stock for Copper at LME was at 165625mt that is up by 2525mt.
SELL COPPER APR 2021 @ 689.00 SL 694.00 TGT 684.00-680.00.MCX
ZINC
Zinc trading range for the day is 217.1-228.3.
Zinc prices dropped as strong Chinese inflation data raises fears that the world's biggest metals consumer will tighten monetary policy.
Speeches by Federal Reserve’s Janet Yellen and Powell last week lowered the risk of runaway inflation.
Market concerns over liquidity contraction caused by high inflation have not been eliminated.
Warehouse stock for Zinc at LME was at 281925mt that is up by 14275mt.
SELL ZINC APR 2021 @ 227.50 SL 229.50 TGT 225.50-223.60.MCX
NICKEL
Nickel trading range for the day is 1192.4-1255.
Nickel prices lower as the dollar increased amid rising US Treasury yields.
Data showed U.S. producer prices increased more than expected in March, resulting in the largest annual gain in 9-1/2 years
German industrial output in February fell 1.6% from the previous month
Warehouse stock for Nickel at LME was at 257628mt that is down by -282mt.
SELL NICKEL APR 2021 @ 1225.00 SL 1240.00 TGT 1210.00-1195.00.MCX
ALUMINIUM
Aluminium trading range for the day is 179.6-185.
Aluminium prices gained as support seen after Primary aluminium inventories shrank 23,000 mt on week.
Meantime, concerns persisted over policy tightening on expectations of further strong Chinese economic figures.
China's banks extended CNY 2.73 trillion in new yuan loans in March 2021, up from CNY 1.36 trillion in the previous month
Warehouse stock for Aluminium at LME was at 1847600mt that is down by -6650mt.
SELL ALUMINIUM APR 2021 @ 182.00 SL 184.00 TGT 180.00-178.50.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
