Aluminium trading range for the day is 204.4-210.1 - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 204.4-210.1
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
Observations
Copper trading range for the day is 719.4-738.
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
Observations
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.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
