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COPPER

Copper trading range for the day is 766.8-783.4.

Copper prices surged as the higher proportion of LME cancelled warrants intensified the overseas supply tightness.

Recent data showed retail sales, producer prices, and industrial production fell more than expected in December

Copper inventory across major Chinese markets added 18,700 mt from last Friday to 154,200 mt.

Warehouse stock for Copper at LME was at 80025mt that is down by -1575mt

BUY COPPER JAN 2023 @ 770.00 SL 765.00 TGT 776.00-780.00.MCX

ZINC

Zinc trading range for the day is 291.9-299.9.

Zinc prices amid renewed concerns of global recession, driven by bright demand expectations from China and a weaker dollar.

China's refined zinc output was 525,800 mt in December 2022, a month-on-month increase of 1,100 mt or 0.21%

The People’s Bank of China continued to inject liquidity into the financial system through open market operations on Friday

Warehouse stock for Zinc at LME was at 18650mt that is down by -500mt.

BUY ZINC JAN 2023 @ 292.00 SL 288.00 TGT 296.00-299.00.MCX

NICKEL

Nickel trading range for the day is 797.3-797.3.

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 51756mt that is down by -108mt.

SELL NICKEL JAN 2023 @ 0.00 SL 0.00 TGT 0.00-0.00.MCX

ALUMINIUM

Aluminium trading range for the day is 218.3-223.1.

Aluminum prices gained driven by the optimism about China's economic recovery and the expectation for a falling US dollar index.

PBOC left its key lending rates unchanged for the fifth straight month at January fixing, as widely expected.

Global aluminium output rises 6.1% y/y in December – IAI

Warehouse stock for Aluminium at LME was at 381175mt that is down by -2400mt.

BUY ALUMINIUM JAN 2023 @ 218.00 SL 215.00 TGT 223.00-225.00.MCX

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