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COPPER

Copper trading range for the day is 699.1-717.1.

Copper prices dropped as Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 20.4 % from last Friday

Visible copper inventories remain low, with Goldman Sachs predicting a supply deficit in 2023 and prices at $11,000 in a year.

China's economy will pick up pace following new COVID rules

Warehouse stock for Copper at LME was at 85425mt that is up by 875mt

SELL COPPER DEC 2022 @ 708.00 SL 712.00 TGT 702.00-698.00.MCX

ZINC

Zinc trading range for the day is 281.6-290.

Zinc rose as LME zinc inventory continued to fall last week, standing at 39,750 mt, its lowest in more than 32 years.

Nyrstar's Auby zinc plant on care and maintenance until further notice

Global zinc market deficit rises to 103,000 T in September – ILZSG

Warehouse stock for Zinc at LME was at 37200mt that is down by -1200mt

SELL ZINC DEC 2022 @ 288.00 SL 290.00 TGT 285.00-282.00.MCX

NICKEL

Nickel trading range for the day is 843.3-843.3.

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 53226mt that is up by 684mt.

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

ALUMINIUM

Aluminium trading range for the day is 212.3-217.1.

Aluminium dropped as the China’s operating aluminium capacity continued to rise in December

Pressure also seen amid restarts in Sichuan and Guangxi, as well as release of new capacity in Inner Mongolia and Gansu.

China's economy will pick up pace following new COVID rules

Warehouse stock for Aluminium at LME was at 471575mt that is down by -5850mt.

SELL ALUMINIUM DEC 2022 @ 216.00 SL 220.00 TGT 212.00-210.00.MCX

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