Aluminium trading range for the day is 200.5-209.8 - Kedia Advisory
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Aluminium
Aluminium trading range for the day is 200.5-209.8
Aluminum gains as China has taken significant steps to boost its economy and end the strict coronavirus-induced regime.
The aluminium ingot social inventories across China's eight major markets stood at 1.267 million mt, down 2,000 mt from a week ago.
Global aluminium producers have offered Japanese buyers premiums of $125-$145 per tonne for April-June primary metal shipments.
Copper
Copper trading range for the day is 729.7-778.9
Copper gains as investors continued to bet on strong demand from China, while the US bank rout pressured the dollar.
The Chinese government announced more stimulus measures will be mandated this year to support infrastructure and construction
China’s manufacturing expanded at its fastest pace in multiple years in February
Zinc
Zinc trading range for the day is 255-266
Zinc gains after data shows that the zinc ingot social inventories in China totalled 182,700 mt down 1,400 mt from previous week.
Domestic refined zinc output in March is estimated to exceed 560,000 mt as high profits have propelled smelters to ramp up production.
Global zinc market deficit climbs to 100,500 T in December – ILZSG
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