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Copper

Copper trading range for the day is 766.2-794.2.

Copper prices slipped as the dollar rebounded and some investors locked in profits after prices gained boosted by further supply disruptions in Peru.

Las Bambas copper mine, would start a period of care and maintenance after operating at a reduced rate.

Increased economic activity during China's New Year celebrations added to hopes of a demand rebound as the country abandons its zero-Covid policy.

Warehouse stock for Copper at LME was at 72450mt that is down by -1925mt.

SELL COPPER FEB 2023 @ 780.00 SL 785.00 TGT 775.00-772.00.MCX

Zinc

Zinc trading range for the day is 286.5-300.1.

Zinc gains after the Fed cemented expectations that rapid interest rate rises will end soon, weakening the dollar.

A rapid softening in the dollar and hopes of revived demand in China after it lifted coronavirus controls have driven prices.

China's refined zinc output was 620,000 mt in December 2022, up 4% year-on-year.

Warehouse stock for Zinc at LME was at 16475mt that is down by -775mt.

SELL ZINC FEB 2023 @ 298.00 SL 302.00 TGT 294.00-292.00.MCX

Aluminium

Aluminium trading range for the day is 222.2-229.

Aluminum gains amid prospects of more robust demand and fears of supply shortages.

China has been taking significant steps to boost its economy and end the strict coronavirus-induced regime, lifting the metal demand

Global inventories now stand at just 1.4 million tons, down 900,000 tons from a year ago and the lowest since 2002.

Warehouse stock for Aluminium at LME was at 399600mt that is up by 35650mt.

SELL ALUMINIUM FEB 2023 @ 228.00 SL 232.00 TGT 223.00-220.00.MCX

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