Aluminium trading range for the day is 205.7-212.5 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 205.7-212.5
Aluminum gains supported by thin inventories
Aluminium smelters in China’s major production hubs ran at almost full capacity
Global manufacturing PMI in April points to greater downward pressure on global economy
Copper
Observations
Copper trading range for the day is 744.3-758.3
Copper dropped as China April copper imports fall amid weak demand
Copper inventories at the Shanghai Futures Exchange fell to under 135 thousand tonnes, near their lowest year-to-date.
Codelco said this year's output is estimated to sink as much as 7% after the 10.6% decline in 2022.
Zinc
Observations
Zinc trading range for the day is 236-240
Zinc prices dropped due to weak demand and stronger supply.
China’s imports of the metal unexpectedly dropped in April, indicating that demand remains subdued
S&P Global has projected that global refined zinc consumption will only grow by 1.3% in 2023
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