Copper trading range for the day is 353.6-379.Copper prices dropped as supply fears were eased by a large rise in stocks and worries over Chinese demand pulled down prices of steel and iron ore.On-warrant inventories available for delivery at LME-registered warehouses increased by 38,950 tons, or 32 percent, to 160,200 tons, the highest since mid-April. Funds net long position rose to 55,899 lots on Friday from 52,365 lots the previous week, LME data showed.
Nickel trading range for the day is 582.1-618.9.Nickel on MCX settled down -3.09% at 595 after Philippine Environment Secretary Regina Lopez was sackedMs Lopez ordered an audit of the country's nickel mines. She had wanted to close mines producing around 8.7% of world supply on environmental grounds. Indonesia's state-controlled miner PT Aneka Tambang will resume exports of nickel ore this month, with an initial shipment of 150,000 tons expected to leave for China in early May
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