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Copper

Copper trading range for the day is 735.9-762.3.

Copper prices rallied supported by expectations of stronger demand and looming supplyconcerns.

Chinese authorities reopened mainland borders with Hong Kong and relaxed quarantine,further moving away from its strict zero Covid policy

On the supply side, production in top producer Chile fell nearly 7% year-on-year inNovember

Warehouse stock for Copper at LME was at 85150mt that is down by -1250mt.

BUY COPPER JAN 2023 @ 745.00 SL 740.00 TGT 754.00-760.00.MCX

Zinc

Zinc trading range for the day is 266.8-292.8.

Zinc prices gained as China’s continued reopening bolstered the economic outlook.

China’s economic growth will quickly rebound and return to its “normal” path as thegovernment provides more financial support to household

Support also seen after softer-than-expected US data tempered expectations that theFederal Reserve will continue to raise interest rates aggressively.

Warehouse stock for Zinc at LME was at 22850mt that is down by -1450mt.

BUY ZINC JAN 2023 @ 275.00 SL 272.00 TGT 280.00-284.00.MCX

Nickel

Nickel trading range for the day is 2450-2450.

Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at410,000 in 2022

Global nickel market sees surplus in February – INSG

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

Warehouse stock for Nickel at LME was at 54528mt that is down by -270mt.

SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

Aluminium

Aluminium trading range for the day is 203.3-215.7.

Aluminum prices rose amid optimism over demand after top consumer China reopened itsborders

China produced 3.44 million mt of aluminium in December 2022, up 8.3% on the year.

The power rationing in south-west China dragged down the domestic operating aluminiumcapacity

Warehouse stock for Aluminium at LME was at 422075mt that is up by 3400mt.

BUY ALUMINIUM JAN 2023 @ 207.00 SL 204.00 TGT 211.00-213.00.MCX

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