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Aluminium trading range for the day is 203.5-208.1 - Kedia Advisory
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Aluminium
Aluminium trading range for the day is 203.5-208.1
Aluminum recovers as ingot inventory may remain low and continue to drop in
May However, expectations of US interest rate hikes, the banking crisis, and debt ceiling negotiations all sent out negative signals.
Driven by production resumption, the domestic operating aluminium capacity and output are expected to increase.
Copper
Copper trading range for the day is 720.9-737.9
Copper dropped as signs of increasingly low demand outweighed tight supply.
Copper inventories in LME warehouses climbed to a near two-month high.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 12.3 % from last Friday.
Zinc
Zinc trading range for the day is 226-233
Zinc prices dropped weighed down by expectations for a strong rebound in supply
London Metal Exchange (LME) three-month metal hitting a two-and-a-half year low.
China's post-lockdown bounce-back continues to disappoint.
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