Aluminium trading range for the day is 193.7-197.7 - Kedia Advisory
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Aluminium
Observation
Aluminium trading range for the day is 193.7-197.7
Aluminium dropped as manufacturing in Euro Area and Germany contracted
Pressure also seen due to slow demand recovery in top metals consumer
China and concerns over global economic growth.
Aluminium ingot social inventories in China fall again after brief accumulation
Copper
Observation
Copper trading range for the day is 711.4-721.3
Copper gains as Chile copper output falls 14% y/y in May
Headline LME copper stocks have slid from 100,100 tonnes to 77,050 over the last three weeks
Copper inventories in warehouses monitored by SHFE rose 13.1 % from last release on Jun 16.
Zinc
Observation
Zinc trading range for the day is 211-216
Zinc prices dropped as China's factory activity growth slowed in June
China's economic growth has slowed in recent months, raising hopes for stimulus.
Chinese Premier Li Qiang said that the country would take steps to boost demand.
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