* Copper trading range for the day is 526-544.2
* Copper gained buoyed by a weaker dollar and strong fund buying on hopes that Chinese stimulus would spur demand.
* LME cash copper prices have traded around $25 higher than three months prices in the backwardated market structure that suggests low copper stocks in markets
* Stocks of copper in Shanghai bonded areas increased for the seventh consecutive week, as domestic consumption remained weak.
* Warehouse stock for Copper at LME was at 78900mt that is up by 150mt.
BUY COPPER SEP 2020 @ 530.00 SL 526.00 TGT 534.50-538.00.MCX
* Zinc trading range for the day is 194.6-199.8.
* Zinc prices gained as resurgent Chinese industry bolstered the outlook for demand.
* Stocks in Shanghai Futures Exchange sheds have slipped to 58,453 tonnes from 170,000 tonnes in March.
* The discount of cash zinc to the three-month contract on the LME shrank to $21.40 a tonne from $31 earlier this month, suggesting tighter nearby supply.
* Warehouse stock for Zinc at LME was at 219525mt that is unchange mt.
BUY ZINC SEP 2020 @ 194.80 SL 193.40 TGT 196.40-197.60.MCX
* Nickel trading range for the day is 1073.1-1121.5.
* Nickel dropped as pressure seen nickel ore inventories across all Chinese ports increased
* Nickel ore inventories across all Chinese ports increased 43,000 wmt from September 11 to 8.95 million wmt
* China’s refined nickel output declined 2.25% or 330 mt from July, but rose 12.94% from a year earlier, to 14,300 mt in August.
* Warehouse stock for Nickel at LME was at 236526mt that is down by -462mt.
BUY NICKEL SEP 2020 @ 1102.00 SL 1092.00 TGT 1115.00-1124.00.MCX
* Aluminium trading range for the day is 144-145.2.
* Aluminium gains as uncertainty over the economic outlook weighed on US dollar index.
* Prices also remained supported amid tightened supply of imported scrap aluminium and falling aluminium social inventories.
* Investors remained on edge about the outlook on further coronavirus stimulus as well as the timing of a viable vaccine.
* Warehouse stock for Aluminium at LME was at 1504175mt that is down by -2250mt.
BUY ALUMINIUM SEP 2020 @ 144.00 SL 142.50 TGT 145.50-146.20.MCX
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