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COPPER

Copper trading range for the day is 728.6-749.

Copper gains as inventories in Shfe warehouses and Chinese bonded warehouses have fallen rapidly since the summer, pointing to a tight market.

Chile copper exports soar to $4.9 bln in November on high global prices

China's copper imports in November rose 24.3% from the October to their highest since March.

Warehouse stock for Copper at LME was at 75175mt that is up by 950mt.

BUY COPPER DEC 2021 @ 732.00 SL 726.00 TGT 739.00-742.50.MCX

ZINC

Zinc trading range for the day is 269.6-282.6.

Zinc gains amid a positive macro front as the market worries over omicron COVID variant weakened

The final reading of Q3 GDP in eurozone, was in line with expectation and boosted market confidence over economic recovery.

Investors are wary that major central banks will signal tighter policy in meetings this month.

Warehouse stock for Zinc at LME was at 150675mt that is down by -1425mt.

BUY ZINC DEC 2021 @ 271.50 SL 269.00 TGT 275.00-277.00.MCX

NICKEL

Nickel trading range for the day is 1557.6-1591.4.

Nickel prices rose as inventories in the city's exchange warehouses hovered near record lows, while the demand outlook remained robust.

Refined nickel inventories in ShFE warehouses were at 5,563 tonnes last week, hovering near a record low of 4,455 tonnes hit in August

LME cash nickel premium over the three-month contract was $150.80 a tonne, indicating tight nearby supplies.

Warehouse stock for Nickel at LME was at 109986mt that is down by -372mt.

BUY NICKEL DEC 2021 @ 1565.00 SL 1550.00 TGT 1582.00-1595.00.MCX

ALUMINIUM

Aluminium trading range for the day is 210.6-215.

Aluminium gains as the aluminium output in November dropped 3% year-on-year and stood at a low level in November.

The exports of unwrought aluminium and aluminium semis rose by more than 20% YoY in the same month, supporting aluminium prices.

The risk sentiment also improved after the central Bank of China signalled steady growth strategy.

Warehouse stock for Aluminium at LME was at 894350mt that is up by 700mt.

BUY ALUMINIUM DEC 2021 @ 212.00 SL 210.00 TGT 214.00-215.80.MCX

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