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COPPER

Copper trading range for the day is 725.5-744.5.

Copper climbs as inventories outweigh easing Omicron fears

Copper stocks in LME-registered warehouse, at 80,075 tonnes, are about a third of levels registered in late August.

China's Nov factory activity likely contracted at a slower pace

Warehouse stock for Copper at LME was at 80075mt that is down by -3725mt.

BUY COPPER DEC 2021 @ 726.00 SL 720.00 TGT 734.00-738.00.MCX

ZINC

Zinc trading range for the day is 266.7-276.9.

Zinc prices gained amid output cuts among overseas smelters due to high electricity prices.

Falling zinc stocks on the LME, down 20% to 161,450 tonnes since April, cancelled warrants at 22%

The premium was last at $128 a tonne while three-month zinc rose 0.2% to $3,199.

Warehouse stock for Zinc at LME was at 161450mt that is down by -1825mt.

BUY ZINC DEC 2021 @ 268.00 SL 265.00 TGT 272.00-274.50.MCX

NICKEL

Nickel trading range for the day is 1534.7-1575.1.

Nickel prices remained supported after the market concerns of new COVID-19 variant subsided.

The stainless steel sector’s demand for nickel weakened, and the market transaction was also slack.

The global nickel market deficit narrowed to 5,200 tonnes in September from a shortfall a month earlier of 14,600 tonnes

Warehouse stock for Nickel at LME was at 115296mt that is down by -150mt.

BUY NICKEL DEC 2021 @ 1540.00 SL 1520.00 TGT 1562.00-1574.00.MCX

ALUMINIUM

Aluminium trading range for the day is 207.7-216.3.

Aluminium gained on concerns about tighter supplies and as demand fears from the Omicron coronavirus variant eased

China's Nov factory activity likely contracted at a slower pace

Power curbs in China have reduced around 7% of domestic aluminum annual capacity so far this year

Warehouse stock for Aluminium at LME was at 909225mt that is down by -6625mt.

BUY ALUMINIUM DEC 2021 @ 208.00 SL 206.00 TGT 210.50-212.00.MCX

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