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COPPER

Copper trading range for the day is 640.8-653.6.

Copper prices fell as rising COVID-19 cases and weaker than expected manufacturing data in China, raised concerns over demand weakness.

COVID restrictions are affecting factories in numerous Chinese cities and the yuan fell to its weakest since 2007.

China's central bank again said it will step up credit support for the economy and keep the yuan steady.

Warehouse stock for Copper at LME was at 113125mt that is down by -6250mt.

BUY COPPER NOV 2022 @ 645.00 SL 641.00 TGT 652.00-656.00.MCX

ZINC

Zinc trading range for the day is 241.8-265.4.

Zinc dropped pulled down by a stronger U.S. dollar and fresh coronavirus cases in top consumer China, sparking fears of softening demand for metals.

China's factory activity unexpectedly fell in October, the National Bureau of Statistics survey showed, weighed down by softening global demand

China's Guangzhou city reported a jump in new COVID-19 infections, Mamau's government reinstated some tough COVID curbs.

Warehouse stock for Zinc at LME was at 45525mt that is down by -1875mt.

BUY ZINC NOV 2022 @ 250.00 SL 247.00 TGT 254.00-257.00.MCX

NICKEL

Nickel trading range for the day is 1853.9-1853.9.

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 Warehouse stock for Nickel at LME was at 52884mt that is unchange mt.

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 52884mt that is unchange mt.

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

ALUMINIUM

Aluminium trading range for the day is 192.5-200.9

 Aluminum remained supported as ingot social inventories across China’s were down 8,000 mt from a week ago

The official NBS Non-Manufacturing PMI for China dropped to 48.7 in October 2022 from 50.6 a month earlier.

The NBS Composite PMI Output Index in China dropped to a five-month low of 49.0 in October 2022 from 50.9 in the prior month

Warehouse stock for Aluminium at LME was at 586225mt that is down by -1200mt.

BUY ALUMINIUM NOV 2022 @ 196.00 SL 193.00 TGT 200.00-202.00.MCX

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