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COPPER

Copper trading range for the day is 786.9-808.9.

Copper rose following reports that China’s state council vowed to keep stability in financial markets.

UBS expects China to cut its policy rate by 10bps and expects further RRR cuts

UBS lowers China's GDP growth forecast for 2022 to 5% from 5.4%

Warehouse stock for Copper at LME was at 77475mt that is down by -50mt.

BUY COPPER MAR 2022 @ 788.00 SL 782.00 TGT 798.00-804.00.MCX

ZINC

Zinc trading range for the day is 310-324.

Zinc gained amid lingering worries over supply tightness, though Russia-Ukraine tension has been easing.

The zinc concentrate supply remained tight, so the domestic TCs are likely to drop further.

In the spot market, with resurging pandemic in Jiangsu, Shenzhen, Shandong, etc., and the consumption side has been greatly affected.

Warehouse stock for Zinc at LME was at 144200mt that is down by -225mt.

BUY ZINC MAR 2022 @ 312.50 SL 309.00 TGT 318.00-321.00.MCX

NICKEL

Nickel trading range for the day is 2505.6-3076.6.

Nickel dropped as diplomatic efforts to resolve the Russia-Ukraine conflict calmed supplydisruption fears

Demand concerns in top consumer China also weighed on the market.

The refined nickel supply was still insufficient for the demand last week.

Warehouse stock for Nickel at LME was at 74688mt that is down by -300mt.

SELL NICKEL MAR 2022 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 257.5-274.5.

Aluminum dropped on profit booking after gained boosted by ongoing supply issues and prospects of strong demand following China’s pledge to roll out more stimulus.

China Jan – Feb aluminium output falls 1.4% y/y to 6.33 mln tonnes

The latest data showing LME warehouse inventories were at 742,200 tonnes, their lowest since 2007.

Warehouse stock for Aluminium at LME was at 733900mt that is down by -8300mt.

BUY ALUMINIUM MAR 2022 @ 264.00 SL 260.00 TGT 269.00-274.00.MCX

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