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COPPER

Copper trading range for the day is 732.9-755.9.

Copper prices recovered losses to end with gains as tight inventories in exchange warehouses lent support.

On-warrant LME copper inventories edged up slightly to 31,745 tonnes but were still hovering near their lowest since 1998

ShFE copper stocks rose for the first time in three weeks to 49,327 tonnes, but were still down some 80% from May.

Warehouse stock for Copper at LME was at 131300mt that is down by -8875mt.

BUY COPPER NOV 2021 @ 745.00 SL 742.00 TGT 749.00-753.00.MCX

ZINC

Zinc trading range for the day is 278.8-293.2.

Zinc prices dropped as U.S. manufacturing activity slowed in October

The China Caixin Manufacturing PMI for October rebounded to 50.6, back to the expansion zone.

The social inventories of zinc ingots totalled 140,700 mt as of November 1, down 2,900 mt from Friday October 29.

Warehouse stock for Zinc at LME was at 196800mt that is down by -600mt.

BUY ZINC NOV 2021 @ 282.50 SL 280.00 TGT 285.00-287.00.MCX

NICKEL

Nickel trading range for the day is 1486-1546.6.

Nickel prices settled flat as China steps up policies to boost output ahead of the winter season.

NPI prices stayed in premiums over pure nickel, and the downstream stainless steel companies were not active in purchasing.

Asian factories shake off lockdown blues, now face supply headaches

Warehouse stock for Nickel at LME was at 142440mt that is down by -582mt.

BUY NICKEL NOV 2021 @ 1512.00 SL 1496.00 TGT 1532.00-1544.00.MCX

ALUMINIUM

Aluminium trading range for the day is 215.8-226.4.

Aluminium prices dropped as the steeply falling coal prices have smashed the estimated support from aluminium costs.

Concentrated arrivals of backlog cargoes after weather improved caused the social inventory to continue to grow.

China’s factory activity expanded at its fastest pace in four months in October, buoyed by stronger demand

Warehouse stock for Aluminium at LME was at 1035525mt that is down by -7275mt.

BUY ALUMINIUM NOV 2021 @ 220.00 SL 216.00 TGT 225.00-227.50.MCX

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