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COPPER

Copper trading range for the day is 762-777.

Copper settled flat as Russian troops return to base

Peru community says it will not block Las Bambas mining road for now

China to step up support for small industrial firms

Warehouse stock for Copper at LME was at 70125mt that is down by -2100mt.

BUY COPPER FEB 2022 @ 766.00 SL 760.00 TGT 772.00-776.00.MCX

ZINC

Zinc trading range for the day is 295.9-302.5.

Zinc dropped after Russia-Ukraine tensions eased but remained supported as domestic zinc concentrate supply was still tight

The energy issues in the Europe remained, and concerns over the supply side still existed.

China’s central bank stepped up support for its slowing economy by pumping in cash via policy loans for a second straight month

Warehouse stock for Zinc at LME was at 150725mt that is down by -800mt.

BUY ZINC FEB 2022 @ 297.00 SL 295.00 TGT 300.00-302.50.MCX

NICKEL​​​​​​​

Nickel trading range for the day is 1731-1817.6.

Nickel dropped after Russia denied it wants to attack Ukraine, raising hopes the two neighboring nations will avoid a full-blow conflict.

LME nickel inventory kept falling and the backwardation of SHFE nickel contracts indicated tight nickel supply.

PBOC injected CNY 300 billion of one-year medium-term lending facility (MLF) into the financial system

Warehouse stock for Nickel at LME was at 84474mt that is down by -420mt.

BUY NICKEL FEB 2022 @ 1764.00 SL 1748.00 TGT 1782.00-1796.00.MCX

ALUMINIUM​​​​​​​

Aluminium trading range for the day is 253-261.6.

Aluminum dropped as Baise’s easing of pandemic control improves aluminium output

The premium of LME cash aluminium over the three-month contract rose to $51.30 a tonne, highest since July 2018

Aluminium social inventories stood at 994,000 mt, up 45,000 mt on a weekly basis.

Warehouse stock for Aluminium at LME was at 860250mt that is down by -8700mt.

BUY ALUMINIUM FEB 2022 @ 255.50 SL 253.00 TGT 258.00-260.00.MCX

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