Aluminium trading range for the day is 204.6-207 - Kedia Advisory
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Aluminium
Observation
Aluminium trading range for the day is 204.6-207
Aluminium settled flat as Yunnan aluminum production is now threatened.
Investor sentiment was aided by China's financial boost
China's central bank upbeat on Q2 GDP growth, confident on 2023 targets
Copper
Observations
Copper trading range for the day is 717.4-734
Copper dropped as investors continue to assess the global economic outlook
Copper stocks on the SHFE declined 11.7% to a six-month low of 76,473 metric tons
LME's on-warrant copper stocks resumed decline after Thursday's growth
Zinc
Observation
Zinc trading range for the day is 212-219
Zinc dropped as Chinese refined zinc output rose 4.54% MoM and 9.56% YoY
China will likely further cut banks' reserve ratio and interest rates in the second half of this year to support the economy.
Some smelters in Henan reduced production due to high sulphuric acid inventories.
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