Aluminium trading range for the day is 203.2-208.5 - Kedia Advisory
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Aluminium
Aluminium trading range for the day is 203.2-208.5
Aluminium gains as ingot social inventory to fall rapidly.
China’s aluminium ingot social inventories stood at 1.13 million mtas of March 23, down 85,000 mt from a week ago
The output for the months of January and February 2023 was 6.5million tonnes, an increase of 5.3% on year
Copper
Copper trading range for the day is 766.4-780.9
Copper gains as PBOC lowered RRR, expected to release 600 billion yuan of funds
Copper inventories at the Shanghai Futures Exchange tumbled 36% since their peak in February.
S&P: Our growth prediction of 5.5% for China this year is higher than the country's aim of roughly 5%.
Zinc
Zinc trading range for the day is 253-259
Zinc gains as power rationing in Yunnan still persists
China's zinc treatment charges fall from multi – year high as smelters ramp up
Global zinc market deficit slides to 18,300 T in January – ILZSG
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