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COPPER

Copper trading range for the day is 609.5-647.3.

Copper edged up after top consumer China sought to ease concerns over financial distress facing its property sector.

China's June copper imports rose 15.5 % from a month ago to 537,698 tonnes, customs data showed

Imports of copper concentrate, was 2.06 million tonnes in June, down 5.9% from 2.19 the previous month.

Warehouse stock for Copper at LME was at 130275mt that is down by -150mt.

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

ZINC

Zinc trading range for the day is 268.6-281.4.

Zinc prices gained as the central bank guided it higher amid tempered investor expectations about a more aggressive Fed rate hike this month.

China’s the central bank guided it higher amid tempered investor expectations about a more aggressive Federal Reserve rate hike this month.

PBOC stepped up cash injections through open market operations, snapping a 10-day streak of a minimal CNY 3 billion of daily offering.

Warehouse stock for Zinc at LME was at 74675mt that is down by -3175mt.

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

NICKEL

Nickel trading range for the day is 651.8-651.8.

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 62532mt that is down by -552mt.

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

ALUMINIUM

Aluminium trading range for the day is 202.5-216.5.

Aluminium prices remained supported as the market expectations for the interest rate hike weakened, easing the pessimistic sentiment.

China's June aluminium imports down 36.3% y/y

Relaxed power restrictions this year have eased aluminium supply tensions that had been the key driving force behind price surges

Warehouse stock for Aluminium at LME was at 328500mt that is down by -4500mt.

BUY ALUMINIUM JUL 2022 @ 208.00 SL 205.00 TGT 212.00-216.00.MCX

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