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COPPER

Copper trading range for the day is 724.8-748.8.

Copper prices dropped as the dollar ticked higher, while signs of easing tightness in nearby supplies of the metal also weighed on the market.

China's factory gate prices rose 12.9% from a year earlier in November amid a government crackdown on runaway commodity prices

On-warrant LME-registered stocks rose to a one-month high of 76,250 tonnes.

Warehouse stock for Copper at LME was at 77925mt that is up by 2750mt.

BUY COPPER DEC 2021 @ 738.00 SL 732.00 TGT 744.00-746.50.MCX

ZINC

Zinc trading range for the day is 272.8-282.2.

Zinc prices dropped as the dollar firmed, Omicron fears subsided and attention turned to the unwinding of U.S. monetary stimulus

China's Nov PPI +12.9% y/y, CPI +2.3% y/y

China central bank raises forex reserve requirement ratio to 9%

Warehouse stock for Zinc at LME was at 150400mt that is down by -275mt.

BUY ZINC DEC 2021 @ 276.50 SL 274.50 TGT 278.60-280.00.MCX

NICKEL

Nickel trading range for the day is 1538.1-1581.1.

Nickel prices dropped after reports China's Tsingshan starts producing EV battery raw material nickel matte in Indonesia

China's factory-gate inflation slowed in November, driven by a government crackdown on runaway commodity prices

The domestic refined nickel output stood at 15,200 mt in November, up 4.86% or 706 mt month-on-month.

Warehouse stock for Nickel at LME was at 108918mt that is down by -1068mt.

BUY NICKEL DEC 2021 @ 1566.00 SL 1554.00 TGT 1580.00-1588.00.MCX

ALUMINIUM

Aluminium trading range for the day is 211-216.8.

Aluminium prices remained supported as aluminium output remained at a low level.

China raises banks' FX reserve requirements for 2nd time this year

China central bank raises forex reserve requirement ratio to 9%

Warehouse stock for Aluminium at LME was at 890650mt that is down by -3700mt.

BUY ALUMINIUM DEC 2021 @ 212.00 SL 210.00 TGT 214.00-215.50.MCX

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