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Copper

* Copper trading range for the day is 640.7-718.1. 

* Copper prices dropped amid worries around policy tightening and bubbles in the Chinese economy ahead of a key parliamentary session

* PBoC injected CNY 20 billion into the market via seven-day reverse repos at an interest rate of 2.2 percent

* Global copper smelting edged lower in February as industrial activity in top producer China declined during the Lunar New Year holiday

* Warehouse stock for Copper at LME was at 79825mt that is up by 5725mt.

* SELL COPPER MAR 2021 @ 706.00 SL 714.00 TGT 696.00-688.00.M

Zinc

* Zinc trading range for the day is 206.7-222.5.

* Zinc prices dropped as bleak manufacturing data from top consumer

* China pressured prices Investors were cautious as they awaited a series of policy announcements later this week.

* Domestic zinc concentrate is in short supply as zinc mines in high-altitude areas remain suspended

* Warehouse stock for Zinc at LME was at 269100mt that is down by -100mt.

* SELL ZINC MAR 2021 @ 218.50 SL 221.00 TGT 216.00-214.20.MCX

Nickel

* Nickel trading range for the day is 1104.4-1270.8.

* Nickel prices dropped on concerns of oversupply in the nickel battery market after Chinese giant Tsingshan announced a major supply pact.

* China's Tsingshan Holding Group, a nickel and stainless steel giant, will provide 100,000 tonnes of nickel matte to Huayou Cobalt.

* Pressure also seen after update one of the major nickel producing mine’s production at Russia which was on a halt due to water shortage can restart production.

* Warehouse stock for Nickel at LME was at 260994mt that is down by -540mt.

* SELL NICKEL MAR 2021 @ 1268.00 SL 1286.00 TGT 1240.00-1226.00.MCX

Aluminium

* Aluminium trading range for the day is 167.6-179.6.

* Aluminium prices dropped as pressure seen after social inventories of primary aluminium in China, including SHFE warrants, rose 91,000 mt

* Data showed that stocks of 6063 aluminium billet across in China rose 7,000 mt from the previous week to 246,300 mt

* US factory orders rise the most in 6 months

* Warehouse stock for Aluminium at LME was at 1299775mt that is down by -4300mt.

* SELL ALUMINIUM MAR 2021 @ 178.00 SL 180.00 TGT 175.50-174.20.MCX

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