COPPER

Copper trading range for the day is 478.9-490.3.

Copper settled flat as worries about demand in China undermined sentiment before a lower dollar helped prices to recover.

China's total social financing, a broad measure of credit and liquidity in the economy, dropped sharply to 760.8 billion yuan in May from 1.56 trillion yuan in April.

Global copper concentrate output to grow at a slower pace and unable to meet the demand from additional smelting capacities.

Warehouse stock for Copper at LME was at 293450mt that is down by -2275mt. 

SELL COPPER JUNE BELOW 484.50 SL ABV 489 TGT 481.30-478. MCX (STBT)

ZINC

Zinc trading range for the day is 215.1-220.9.

Zinc prices gained tracking rise in LME prices as the US dollar came off.

The output of refined zinc to increase in June, up by 4.07% from May to 440,300 tons, as some smelters have completed their maintenance checks.

China's output of refined zinc was 423,000 tons in May, down 4.92% from April. Warehouse stock for Zinc at LME was at 245150mt that is down by -1750mt.

SELL ZINC JUNE BELOW 218.50 SL ABV 220.10 TGT 217.10-215.80. MCX (STBT)

NICKEL

Nickel trading range for the day is 1011.9-1079.1.

Nickel gained as support came after China said it would ban new capacity for steel, coke and primary aluminium production in some key areas

The import window for nickel is not open yet and inventory at bonded warehouses is not going to enter the domestic market.

Nickel invisible inventory was around 57,142 tons as of now, according to data, down 34.12% year-on-year.

Warehouse stock for Nickel at LME was at 277014mt that is down by -972mt.

BUY NICKEL JUN 2018 @ 1040.00 SL 1030.00 TGT 1054.00-1065.00.MCX

ALUMINIUM

Aluminium trading range for the day is 153.3-156.9.

Aluminium dropped tracking weakness in LME prices as investors fretted over liquidity in China.

China's export of unwrought aluminium and aluminium semis in May reached a record high since the start of 2015 to stand at 485,000 mt.

Exports of Chinese aluminium products were bolstered by restrictions on Rusal brand aluminium products in US sanctions a month ago.

Warehouse stock for Aluminium at LME was at 1153875mt that is down by -8775mt.

SELL ALUMINIUM JUN 2018 @ 156.00 SL 157.50 TGT 154.50-153.00.MCX

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