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COPPER

Copper trading range for the day is 614.6-656.4.

Copper remained supported as inventories of copper in China bonded warehouses continued to deplete and were last at a record low of 81,800 tonnes.

However, upside seen limited as a low appetite for risky assets amid fears of weakening global economic growth

LME copper inventories rose to 129,000 tonnes, their highest since Aug. 15.

Warehouse stock for Copper at LME was at 133550mt that is up by 2700mt

BUY COPPER OCT 2022 @ 635.00 SL 630.00 TGT 644.00-648.00.MCX

ZINC

Zinc trading range for the day is 255.4-272.6

Zinc gained as global zinc market flips to deficit of 72,800 T in July

China industrial profits fall 2.1% Yoy in Jan-August

PBoC makes largest daily cash injection in 7 months

Warehouse stock for Zinc at LME was at 53775mt that is down by -675mt.

BUY ZINC OCT 2022 @ 263.00 SL 260.00 TGT 268.00-272.00.MCX

NICKEL

Nickel trading range for the day is 1820-1820.

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 51792mt that is down by -72mt.

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

ALUMINIUM

Aluminium trading range for the day is 185.3-193.5.

Aluminum gains as Norwegian aluminium producer Norsk Hydro will cut output at two of its Norway plants

Global aluminium output rises 3.49% year on year in August – IAI

China's August aluminium imports fall 19% on year as domestic output rises

Warehouse stock for Aluminium at LME was at 335625mt that is down by -1800mt.

BUY ALUMINIUM OCT 2022 @ 186.00 SL 182.00 TGT 192.00-196.00.MCX

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