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Aluminium trading range for the day is 202.6-208.6 - Kedia Advisory
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Aluminium
Observation
Aluminium trading range for the day is 202.6-208.6
Aluminum gains supported by hopes of stimulus from China.
China’s operating aluminium capacity rose to 40.92 million mt atthe end of May
China’s aluminium output rose 1% year-on-year to around 3.47million mt in May
Copper
Observation
Copper trading range for the day is 714.6-731.2
Copper gains on hopes of China’s stimulus measures
LME on-warrant copper inventory dropped 19.9%, the biggestdaily slump since October 2022
Global manufacturing PMI for May continued to fall MoM
Zinc
Observation
Zinc trading range for the day is 212-218
Zinc gains on hopes of stimulus measures from top metalsconsumer China.
China will likely further cut banks' reserve ratio and interest ratesin the second half of this year to support the economy.
Some smelters in Henan reduced production due to highsulphuric acid inventories.
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