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Copper

* Copper trading range for the day is 712.3-728.3.

* Copper dropped as an overall stronger dollar, worsening COVID-19 situation in China, and global economic slowdown worries weighed.

* China will boost fiscal spending "appropriately" in 2023 to support the slowing economy, focusing on tech innovation and key strategic sectors

* Chile copper production down 5.5% in November

* Warehouse stock for Copper at LME was at 88925mt that is up by 2900mt.

BUY COPPER JAN 2023 @ 715.00 SL 712.00 TGT 720.00-724.00.MCX

Zinc

* Zinc trading range for the day is 265.6-272.

* Zinc dropped as China produced 605,000 mt of zinc in November, an increase of 2.9% year on year.

* Output at some smelters topped their expectations and this pushed domestic refined zinc output higher in November.

* The People’s Bank of China injected a total CNY 202 billion of reverse repos into the banking system

* Warehouse stock for Zinc at LME was at 32025mt that is down by -1800mt.

BUY ZINC JAN 2023 @ 266.00 SL 264.00 TGT 269.00-271.00.MCX

Nickel

* Nickel trading range for the day is 855.8-855.8.

* Nickel settled flat as Sumitomo Metal sees global nickel demand for battery use at 410,000 in 2022

* Global nickel market sees surplus in February – INSG

* Nickel briquette prices stood above 200,000 yuan/mt, and demand from nickel sulphate plants may contract.

* Warehouse stock for Nickel at LME was at 55476mt that is up by 240mt.

SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

Aluminium

* Aluminium trading range for the day is 206.2-212.6.

* Aluminum dropped as China's imports of primary aluminium jumped to a one-year high of 110,700 tonnes in November

*The domestic aluminium supply growth is likely to fall short of expectations amid power rationing in south-west China.

* SHFE aluminium inventory kept picking up and increased by 3.43% on a weekly basis to 95,539 mt.

* Warehouse stock for Aluminium at LME was at 450300mt that is up by 6775mt.

BUY ALUMINIUM JAN 2023 @ 207.50 SL 205.50 TGT 210.00-212.00.MCX

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