* Copper trading range for the day is 706.4-744.
* Copper prices dropped as a rapid rise in bond yields rattled investor sentiment the US dollar index lifted off a seven-week low.
* The global refined copper market showed a 77,000 tonne deficit in November
* World refined copper output in November was 2.12 million tonnes while consumption was 2.20 million tonnes.
* Warehouse stock for Copper at LME was at 78575mt that is down by -1125mt.
SELL COPPER MAR 2021 @ 720.00 SL 728.00 TGT 708.00-698.00.MCX
* Zinc trading range for the day is 222.1-230.9.
* Zinc prices dropped as 10-year U.S. Treasury yield briefly topped the 1.6% level raising concern for investors across asset classes.
* Fed's chair Jerome Powell told lawmakers it may take more than three years to reach the central bank's inflation goals
* Japan's Jan zinc exports jump 106.3% yr/yr
* Warehouse stock for Zinc at LME was at 270475mt that is down by -50mt.
SELL ZINC MAR 2021 @ 226.00 SL 228.50 TGT 223.50-221.00.MC
* Nickel trading range for the day is 1314.7-1474.5.
* Nickel prices dropped after the global nickel market surplus rose to 14,600 tonnes in December
* Norilsk Nickel said it had partially suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia.
* Nickel output in the Philippines, rose 3% last year to 333,962 tonnes
* Warehouse stock for Nickel at LME was at 251058mt that is down by -168mt.
SELL NICKEL MAR 2021 @ 1390.00 SL 1405.00 TGT 1368.00-1354.00.MCX
* Aluminium trading range for the day is 173.8-177.6.
* Aluminium gains following reassuring comments from Federal Reserve Chairman Jerome Powell on the inflation outlook.
* The market is confident that the stimulus bill will soon come to the ground, and the market sentiment remains high.
* Data showed that aluminium billet stocks in China built up 25,100 mt from a week ago to 239,300 mt
* Warehouse stock for Aluminium at LME was at 1332525mt that is down by -5175mt.
SELL ALUMINIUM MAR 2021 @ 174.00 SL 176.50 TGT 171.50-169.50
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