Choice Commodity Research

Global Update Iran unlikely to agree to US demands, Israeli officials tell Reuters. -Choice Broking

Global Update Iran’s Foreign Minister Abbas Araghchi signaled readiness to move toward a deal in a phone call with US envoy Steve Witkoff. -Choice Broking

Sumeet Bagadia’s Desk : Target Achieved @ 1113.25...Buy in Commodity COPPER|31MAR26 @ 1109.15 SL 1107.15 TGT 1113.15

Sumeet Bagadia’s Desk:Buy COPPER|31MAR26 in Commodity @ 1109.15 SL 1107.15 TGT 1113.15

Sumeet Bagadia’s Desk : Stopped Out @ 224155...Sell in Commodity SILVERMIC|30APR26 @ 220397 SL 224101 TGT 212989.00

India Economic Data India Manufacturing Growth Hits 4½-Year Low, fell to 53.8 in March 2026 from 56.9 in February, exceeding expectations for a slight easing to 56.8, preliminary estimates showed. India Services Growth Slows to 14-Month Low, fell to 57.2 in March 2026 from 58.1 in February, signaling a slower yet still solid expansion in the services sector. Impact: Weak for Rupee. -Choice Broking

Sumeet Bagadia’s Desk : Stopped Out @ 8628...Buy in Commodity CRUDEOIL|20APR26 @ 8662 SL 8628 TGT 8730.00

Sumeet Bagadia’s Desk:Buy NATGASMINI|26MAR26 in Commodity @ 277.3 SL 272.5 TGT 286.90

Global Update European Commission President: We will not absorb China’s export-led growth model, or industrial overcapacity. Impact: Negative for base metal. -Choice Broking

Sumeet Bagadia’s Desk:Buy CRUDEOIL|20APR26 in Commodity @ 8662 SL 8628 TGT 8730.00

Sumeet Bagadia’s Desk:Sell SILVERMIC|30APR26 in Commodity @ 220397 SL 224101 TGT 212989.00

Copper Update Copper prices slipped by 1.29% after earlier gains as Iran denied US talks, easing de-escalation hopes. Rising geopolitical tensions, uncertain Strait of Hormuz outlook, and high LME and HFE inventories near record levels kept prices under pressure. -Choice Broking

Dollar Update Dollar index prices rebound near 99.5 level after earlier drop as Iran denied US talks and tensions escalated. Uncertainty over oil supply, inflation risks, and rate hikes persisted, with focus shifting to upcoming US manufacturing data. -Choice Broking

Global Market Highlights 🌍📊 * 💵 The dollar faced significant selling pressure after President Trump delayed planned strikes on Iranian energy infrastructure for five days, citing positive discussions with Iran * ⚠️ Iran refuted talks aimed at ending the conflict, contradicting Trump's statements, and announced new attacks on US targets. * ⚡ Tensions remain high as Israel continues its airstrikes against Iran. * 🔥 Recent strikes targeted gas facilities in Isfahan and a gas pipeline in Khorramshahr, Iran. * 🌊 The outcomes of negotiations and the possibility of reopening the Strait of Hormuz remain uncertain. * 🕊️ The EU chief has called for negotiations to resolve the Iran conflict. * 📄 An Iranian Foreign Ministry official confirmed receipt of a proposal from Washington, which is under review. * ⛽ U.S. Energy Secretary Chris Wright stated it is "highly unlikely" that the U.S. will release more oil from its Strategic Petroleum Reserve amid the ongoing conflict. * 🚢 Two vessels navigating the Strait of Hormuz have reportedly paid Iran for safe passage, with commercial traffic increasingly opting for Iranian territorial waters, referred to as the “Tehran Toll Booth”, fee is reported to have been $2 million. -Choice Broking

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in CRUDEOILM|20APR26

Sumeet Bagadia’s Desk : Book Part Profit @ 8079...Sell in Commodity CRUDEOILM|20APR26 @ 8288 SL 8580 TGT 7704.00

*CRUDE OIL hit LC with -12% at 8148*

Sumeet Bagadia’s Desk:Sell CRUDEOILM|20APR26 in Commodity @ 8288 SL 8580 TGT 7704.00

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in NATURALGAS|24MAR26 PE 270.00