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Copper

Copper trading range for the day is 667.1-684.1.

Copper gained as dollar dropped as concerning US confidence data strengthened the case for a lower terminal rate by the Federal Reserve.

China Oct copper imports at 404,414 tonnes

Chile's Codelco proposes 33% price hike for Chinese copper buyers for 2023

Warehouse stock for Copper at LME was at 83075mt that is down by -1475mt.

SELL COPPER NOV 2022 @ 680.00 SL 685.00 TGT 674.00-670.00.MCX

Zinc

Zinc trading range for the day is 260-270.

Zinc gained as China refined zinc output in October fell

China sticks to strict pandemic policy

Poor economic data from China dented risk sentiment and appetite for metals.

Warehouse stock for Zinc at LME was at 43675mt that is down by -175mt.

SELL ZINC NOV 2022 @ 268.00 SL 272.00 TGT 264.00-262.00.MCX

Nickel

Nickel trading range for the day is 665-665.

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 50814mt that is up by 24mt.

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

Aluminium

Aluminium trading range for the day is 201-209.6.

Aluminium gains as some aluminium smelters in Henan province reduced production.

China trade surplus below estimates in October

China forex reserves slightly above forecasts

Warehouse stock for Aluminium at LME was at 564375mt that is down by -6400mt.

SELL ALUMINIUM NOV 2022 @ 206.00 SL 209.00 TGT 202.00-200.00.MCX

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