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COPPER

Copper trading range for the day is 792.4-830.8.

Copper rose after the news that top copper producer Chile recorded its lowest January output since 2011.

Prices remained supported amid robust demand, the possibility of supply disruptions due to geopolitical risks, and low global stockpiles.

Chile’s copper output fell by 15% MoM and 7.5% YoY in January 2022.

Warehouse stock for Copper at LME was at 71375mt that is down by -700mt.

BUY COPPER MAR 2022 @ 792.00 SL 780.00 TGT 805.00-812.00.MCX

ZINC

Zinc trading range for the day is 319.1-336.7.

Zinc prices rose as the market was still on edge in light of the on-going Russia-Ukraine tensions.

China’s services sector recorded the slowest pace of expansion in six months in February

The global zinc market deficit narrowed to 37,300 tonnes in December from a revised shortfall of 43,100 tonnes a month earlier

Warehouse stock for Zinc at LME was at 142725mt that is down by -450mt

BUY ZINC MAR 2022 @ 318.00 SL 314.00 TGT 324.00-328.00.MCX

NICKEL

Nickel trading range for the day is 1981.8-2183.8.

Nickel rose amid concerns about supply disruption and low global stockpiles are behind the move higher

Vale Indonesia reported that production for nickel in matte fell by 9.5% YoY to 65.4kt in 2021

Chinese stainless-steel producer Tsingshan has been selling nickel matte in the Chinese domestic market

Warehouse stock for Nickel at LME was at 77784mt that is down by -378mt.

BUY NICKEL MAR 2022 @ 1965.00 SL 1940.00 TGT 2000.00-2025.00.MCX

ALUMINIUM

Aluminium trading range for the day is 287.1-312.7.

Aluminum rallied to all time high amid disruptions to Russian supply added to already low inventories.

LME warehouse inventories were at 809,750 tonnes, compared to nearly 2 million tonnes in March last year.

Data showed that the domestic aluminium ingot social inventory totalled 1.12 million mt, which was 21,000 mt higher than last Thursday

Warehouse stock for Aluminium at LME was at 801100mt that is down by -8650mt

BUY ALUMINIUM MAR 2022 @ 286.00 SL 282.00 TGT 290.00-294.00.MCX

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