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COPPER

Copper trading range for the day is 610.1-632.5.

Copper retreated weighed down by concerns of a further slowdown in demand as U.S. housing data cemented fears about a global recession.

U.S. housing starts in June fell to their lowest level since September 2021 amid decadeshigh inflation, as surging mortgage rates reduce affordability.

China June refined copper output up 10.3%

Warehouse stock for Copper at LME was at 133550mt that is down by -2025mt.

BUY COPPER JUL 2022 @ 620.00 SL 614.00 TGT 628.00-635.00.MCX

ZINC

Zinc trading range for the day is 267.9-278.9.

Zinc prices dropped weighed down by concerns of a further slowdown in demand and fears about a global recession.

The global zinc market flipped to a deficit of 3,900 tonnes in May from a revised surplus of 31,000 tonnes a month earlier

China's refined zinc output stood at 490,300 mt in June, down 24,900 mt or 4.84% MoM and 17,700 mt or 3.48% YoY.

Warehouse stock for Zinc at LME was at 72825mt that is down by -600mt.

BUY ZINC JUL 2022 @ 270.00 SL 265.00 TGT 278.00-282.00.MCX

NICKEL

Nickel trading range for the day is 649-649.

Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022

Global nickel market sees surplus in February – INSG

Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphate plants may contract.

Warehouse stock for Nickel at LME was at 60984mt that is down by -426mt.

SELL NICKEL JUL 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 206.3-213.1.

Aluminium gained as China aluminium ingot inventory stood at 668,000 mt down 29,000 mt from last Thursday.

Global aluminium output rises 1.95% y/y to 5.65 mln T in June – IAI

China's aluminium imports in June fell 36.3% from the same month a year earlier, government data showed

Warehouse stock for Aluminium at LME was at 317275mt that is down by -3400mt.

BUY ALUMINIUM JUL 2022 @ 205.00 SL 201.00 TGT 210.00-212.00.MCX

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