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COPPER

Copper trading range for the day is 760.5-773.9.

Copper eased as concerns surrounding lower global growth halted the rally triggered by China’s economic reopening.

Disruptions to mining activity in Peru heightened shortage worries

Chile forecasted its output to contract by nearly 6% in 2023.

Warehouse stock for Copper at LME was at 83600mt that is down by -225mt.

BUY COPPER JAN 2023 @ 762.00 SL 757.00 TGT 768.00-772.00.MCX

ZINC

Zinc trading range for the day is 283.2-292.6.

Zinc dropped as the zinc ingot social inventories in China totalled 89,300 mt, up 18,700 mt from last Monday

PBOC injects CNY 935 billion into market

China new home prices fall for 8th month

Warehouse stock for Zinc at LME was at 20500mt that is down by -475mt.

BUY ZINC JAN 2023 @ 284.00 SL 280.00 TGT 289.00-292.00.MCX

NICKEL

Nickel trading range for the day is 754.3-754.3.

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 53268mt that is up by 6mt.

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

ALUMINIUM

Aluminium trading range for the day is 216.3-225.1.

Aluminum prices rose on prospects of more robust demand from China as the country took significant steps to boost its economy.

Several output cuts at key European smelters last year, including Alcoa's San Ciprian smelter and Hydro's plant in Slovakia, have lent optimism to bulls.

Japan aluminium stocks rise 0.9% m/m in Dec

Warehouse stock for Aluminium at LME was at 399650mt that is down by -1325mt.

BUY ALUMINIUM JAN 2023 @ 218.00 SL 215.00 TGT 222.00-224.00.MCX

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