* Copper trading range for the day is 443.3-454.7.
* Copper gained as China announced new measures to support its economy amid a damaging trade war with the United States, potentially improving demand.
* China’s central bank over the weekend unveiled a key interest rate reform in a bid to help steer borrowing costs lower for companies.
* Copper inventories in LME-registered warehouses have jumped by 22% in three days to 331,975 tonnes, while stocks in warehouses tracked by SHFE rose 4.1%.
* Warehouse stock for Copper at LME was at 330125mt that is down by -1850mt.
* BUY COPPER AUG 2019 @ 442.00 SL 438.00 TGT 447.00-450.00.MCX
* Zinc trading range for the day is 181.4-185.8.
* Zinc prices gained on short covering after investors remained cautious about lower LME zinc inventories amid a contango structure.
* Growing expectations of higher stocks on poor consumption also depressed confidence.
* Zinc social inventories across Shanghai, Tianjin and Guangdong inched up over the weekend, as shipments from Guangdong arrived in Shanghai.
* Warehouse stock for Zinc at LME was at 72425mt that is down by -875mt.
* BUY ZINC AUG 2019 @ 182.50 SL 180.80 TGT 184.00-185.50.MCX
* Nickel trading range for the day is 1107.2-1146.8.
* Nickel dropped on profit booking after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment.
* The Philippines’ top exporter of high-grade nickel ore is expected to shut its mining operations soon as ore deposits are nearly depleted.
* The premium of LME cash nickel over the three-month contract eased from a decade-high of $40 a tonne to $22 a tonne, suggesting nearby supply tightness has eased.
* Warehouse stock for Nickel at LME was at 149640mt that is up by 4506mt.
* BUY NICKEL AUG 2019 @ 1125.00 SL 1110.00 TGT 1150.00-1170.00.MCX
* Aluminium trading range for the day is 139.2-142.
* Aluminium dropped as weak data that showed the Chinese economy continues to be hurt by the ongoing trade war with the United States
* Social inventories of primary aluminium in China shrank over the weekend, as stocks in most areas posted declines.
* The US dollar lost gains after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment.
* Warehouse stock for Aluminium at LME was at 962350mt that is down by -6900mt.
* BUY ALUMINIUM AUG 2019 @ 140.00 SL 138.50 TGT 142.00-144.00.MCX