* Copper trading range for the day is 434.2-443.
* Copper dropped as investors eschewed risk amid waned optimism around US-China trade deal and disappointing factory output data from China.
* The bleak data coupled with uncertainty over the prospects of an interim trade deal between Washington and Beijing limited gains.
* Copper inventories in LME-approved warehouses fell to a five-month low of 224,425 tonnes, latest data showed.
* Warehouse stock for Copper at LME was at 221725mt that is down by -2700mt.
* SELL COPPER NOV 2019 @ 442.00 SL 445.00 TGT 438.50-436.50.MCX
* Zinc trading range for the day is 190.9-195.5.
* Zinc prices traded in range amid downbeat economic data, expanding supply and weakening demand.
* Hidden zinc inventories are helping to keep stocks low in exchange-approved warehouses and prop up prices, but increasing production is due to hit the market
* Data showed that about 529,300 mt of refined zinc was produced across China last month, up 2.64% from September and 15.24% from October 2018.
* Warehouse stock for Zinc at LME was at 52600mt that is down by -650mt.
* SELL ZINC NOV 2019 @ 194.50 SL 196.00 TGT 193.00-191.50.MCX
* Nickel trading range for the day is 1100.1-1157.7.
* Nickel dropped as disappointing Chinese economic data and doubts over US-China trade negotiations dented risk appetite.
* Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations
* China’s production of refined nickel grew 1.5% from September to 13,500 mt in October, as a smelter in Gansu stepped up operations.
* Warehouse stock for Nickel at LME was at 64176mt that is down by -18mt.
* SELL NICKEL NOV 2019 @ 1150.00 SL 1160.00 TGT 1135.00-1122.00.MCX
* Aluminium trading range for the day is 130.4-134.
* Aluminium dropped as disappointing Chinese economic data and doubts over US-China trade negotiations dented risk appetite.
* Official data showed that Chinese retail sales, industrial output and investment data all came in weaker than expected.
* China's aluminium production fell 1.8% in October to 2.88 million tonnes from a year earlier, official data showed.
* Warehouse stock for Aluminium at LME was at 1020975mt that is up by 75075mt.
* BUY ALUMINIUM NOV 2019 @ 133.00 SL 132.00 TGT 134.00-135.00.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer