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COPPER

Copper trading range for the day is 737.4-752.6.

Copper prices fell as the U.S. dollar held firm on expectations for early interest rate hikes from the Federal Reserve.

Chile's Nov. copper output falls amid drops from Codelco and Escondida - Cochilco

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 40.5 percent from last Friday

Warehouse stock for Copper at LME was at 86950mt that is down by -1775mt.

BUY COPPER JAN 2022 @ 748.00 SL 742.00 TGT 755.00-758.00.MCX

ZINC

Zinc trading range for the day is 287.5-293.9.

Zinc dropped on profit booking as the downstream was sluggish in demand as zinc prices stood high.

Domestic zinc stocks increased by 10,900 mt during the New Year's Day holiday.

However, the US ISM manufacturing PMI in December refreshed the low recorded last January

Warehouse stock for Zinc at LME was at 197925mt that is down by -1400mt.

BUY ZINC JAN 2022 @ 290.00 SL 288.00 TGT 292.50-294.00.MCX

NICKEL​​​​​​​

Nickel trading range for the day is 1540.4-1599.6.

Nickel prices dropped on profit booking as the stainless steel and new energy sectors posed no surprises in demand for nickel.

Pressure also seen as current weak consumption has not been transmitted to the nickel demand

Cancelled warrants at 47% suggest another 47,000 tonnes will soon leave LME warehouses

Warehouse stock for Nickel at LME was at 101136mt that is down by -120mt.

BUY NICKEL JAN 2022 @ 1580.00 SL 1565.00 TGT 1596.00-1610.00.MCX

ALUMINIUM​​​​​​​

Aluminium trading range for the day is 222.5-236.9.

Aluminium prices rose as expectations of large deficits were reinforced by high power prices, particularly in Europe, and sliding stocks.

Stocks of aluminium in LME approved warehouses at 926,800 tonnes have dropped more than 50% since the middle of March.

Tightness in the European market can be seen in the duty paid premium at $390 a tonne, up 34% since Dec. 1.

Warehouse stock for Aluminium at LME was at 926800mt that is down by -7575mt.

BUY ALUMINIUM JAN 2022 @ 225.00 SL 223.00 TGT 227.00-228.50.MCX

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