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COPPER

Copper trading range for the day is 785.8-801.4.

Copper dropped as doubts over demand in top consumer China were reinforced by a stronger dollar

Copper production in Peru down 1.7% in April, ministry says

Chile copper exports total $3.76 bln in May

Warehouse stock for Copper at LME was at 120775mt that is down by -20200mt.

BUY COPPER JUN 2022 @ 791.00 SL 785.00 TGT 798.00-803.00.MCX

ZINC

Zinc trading range for the day is 318.2-338.2.

Zinc dropped as market worries over inflation slightly pushed up US dollar index

While the ambiguous recovery of the demand side in China also rattled the nerves of investors

LME zinc inventory rebounded while Shfe zinc inventory fell slightly

Warehouse stock for Zinc at LME was at 86875mt that is down by -1200mt.

BUY ZINC JUN 2022 @ 322.00 SL 318.00 TGT 328.00-332.00.MCX

NICKEL

Nickel trading range for the day is 778.9-778.9.

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 71052mt that is down by -348mt.

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

ALUMINIUM

Aluminium trading range for the day is 230.3-239.7.

Aluminium prices slipped weighed down by a stronger dollar, although losses were limited by demand revival hopes on China relaxing its COVID-19 curbs

Japan aluminium stocks in April down 2.9% m/m

Global aluminium producers seek Q3 premiums of $172 – $177/T in Japan talks

Warehouse stock for Aluminium at LME was at 441725mt that is down by -8775mt.

BUY ALUMINIUM JUN 2022 @ 233.00 SL 230.00 TGT 238.00-242.00.MCX

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