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COPPER

Copper trading range for the day is 705.8-724.2.

Copper prices edged lower as an accelerating wave of coronavirus infections in China, the biggest consumer, eroded demand.

In a sign of slack demand, Chinese Yangshan copper import premiums fell to $40 a tonne from around $145 in early November.

Copper market in 46,000 tonne surplus in October –ICSG

Warehouse stock for Copper at LME was at 81100mt that is down by -250mt.

BUY COPPER DEC 2022 @ 708.00 SL 704.00 TGT 713.00-716.00.MCX

ZINC

Zinc trading range for the day is 259.7-272.9.

Zinc prices dropped on profit booking as a surge in infections that is reducing consumption.

Inventories remain at record lows as the power crisis in Europe has forced many smelters to shut down

PBOC Injects CNY 85 Billion into Market

Warehouse stock for Zinc at LME was at 36400mt that is down by -50mt.

BUY ZINC DEC 2022 @ 262.00 SL 258.00 TGT 267.00-270.00.MCX

NICKEL

#VALUE!

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 54444mt that is up by 228mt.

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

ALUMINIUM

Aluminium trading range for the day is 206.5-209.9.

Aluminum prices dropped as Chinese primary aluminium imports totalled 110,700 mt in November, up 64.1% MoM

LME aluminium inventories have been falling in recent weeks and stocks in SHFE warehouses, are near multi-year lows.

Global aluminium output rises 3.8% y/y in November – IAI

Warehouse stock for Aluminium at LME was at 473000mt that is up by 1675mt.

BUY ALUMINIUM DEC 2022 @ 206.00 SL 203.00 TGT 210.00-212.00.MCX

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