Aluminium trading range for the day is 202.3 205.9 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 202.3-205.9
Aluminum dropped as China May output edged up 1.1% to 3.42 mln tonnes
For the January-to-May period, China produced 16.71 million tonnes, up 3.4% from the same period last year
China's central bank upbeat on Q2 GDP growth, confident on 2023 targets
Copper
Observations
Copper trading range for the day is 722.7-742.1
Copper gains as stocks in LME-registered warehouses, registered a fall to a one-month low of 79,525 metric tons.
Large cancellation of warrants, indicates large amounts of copper are due to leave the LME system soon.
Concern about copper supplies on the LME market are behind the shift to a premium for cash copper over the three-month contract
Zinc
Observations
Zinc trading range for the day is 218-225
Zinc prices rose amid concerns over supply
Swedish miner Boliden that it will halt production within the next month due to "unsustainable financial losses."
S&P Global predicts a modest 1.4% growth in global refined zinc demand for 2023
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