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COPPER

Copper trading range for the day is 666.1-686.1.

Copper prices dropped amid concerns over the outlook for global demand and as hawkish remarks from U.S. Federal Reserve officials

China produced 953,000 tonnes of refined copper in October, up 10.9% from a year ago

Shanghai warehouse copper stocks up 12.7%

Warehouse stock for Copper at LME was at 89750mt that is down by -175mt

SELL COPPER NOV 2022 @ 678.00 SL 683.00 TGT 672.00-668.00.MCX

ZINC

Zinc trading range for the day is 264.7-275.3.

Zinc prices gained on low level recovery as investors assess the outlook for economic growth and monetary policy.

Zinc ingot social inventory down 3,900 mt from Monday

Data showed that the China refined zinc output in October fell slightly short of expectation and stood at 514,100 mt, up 2.02%

Warehouse stock for Zinc at LME was at 42700mt that is down by -50mt.

SELL ZINC NOV 2022 @ 272.00 SL 276.00 TGT 267.00-263.00.MCX

NICKEL

Nickel trading range for the day is 698.3-698.3. 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 49512mt that is up by 12mt.

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

ALUMINIUM

Aluminium trading range for the day is 204.7-212.3.

Aluminum prices gained as support seen after aluminium ingot social inventory dropped 29,000 mt from a week ago.

China's October aluminium imports drop 34%

China's October aluminium output climbs 9.5% on relaxed power curbs

SELL ALUMINIUM NOV 2022 @ 212.00 SL 215.00 TGT 208.00-206.00.MCX

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