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Copper

Copper trading range for the day is 708.4-726.6.

Copper gained as cancelled warrants of LME copper inventories, metals earmarked for delivery, hitting their highest since July 2020 to 84,500 tonnes

China's July industrial profit growth slows on Delta outbreak, floods and high costs

China cbank makes biggest weekly cash injection into banking system since Feb

Warehouse stock for Copper at LME was at 254250mt that is down by -50mt.

BUY COPPER SEP 2021 @ 718.00 SL 714.00 TGT 722.00-726.00.MCX

Zinc

Zinc trading range for the day is 243.1-248.1.

Zinc dropped as profit growth at China’s industrial firms in July grew at its slowest clip this year

Data showed domestic inventories in the seven major markets in China totalled 126200 mt, down 2400 mt on the week

China to auction 150,000 T of metal from state reserves on Sept 1

Warehouse stock for Zinc at LME was at 238275mt that is down by -1375mt.

BUY ZINC SEP 2021 @ 243.00 SL 214.00 TGT 246.00-248.00.MCX

Nickel

Nickel trading range for the day is 1394.2-1429.8.

Nickel gained as a smelter in north China has suspended refined nickel production recently due to high production costs.

Nickel ore inventory at Chinese ports grew 154,000 wmt from a week earlier to 6.076 million wmt

China cbank makes biggest weekly cash injection into banking system since Feb

Warehouse stock for Nickel at LME was at 195252mt that is down by -1038mt.

BUY NICKEL SEP 2021 @ 1390.00 SL 1375.00 TGT 1410.00-1425.00.MCX

Aluminium

Aluminium trading range for the day is 206.4-214.8.

Aluminium gained on supply disruption risks, as five aluminium smelters in China's Xinjiang region were told to impose output limits from this month.

Aluminium smelters in China's Xinjiang told to cut output

The National Reserve Bureau disclosed that the third batch of government reserves are scheduled to be released soon with an amount of 70000 mt

Warehouse stock for Aluminium at LME was at 1338125mt that is up by 31175mt.

BUY ALUMINIUM SEP 2021 @ 204.00 SL 202.00 TGT 206.50-208.00.MCX

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