Aluminium trading range for the day is 205.9-211.3 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 205.9-211.3
Aluminum dropped as U.S. economy is likely to slow down
China’s Manufacturing PMI unexpectedly fell to a four-month low of 49.2 in April of 2023 from 51.9 in March
China’s PMI Output Index in China declined to 54.4 in April 2023 from a record high of 57.0 in the previous month.
Copper
Observations
Copper trading range for the day is 729.6-742.8
Copper dropped pressured by the sluggish pace of metals demand recovery in China.
The global copper market is expected to see a deficit this year, steered by improved Chinese demand.
Chile's copper output falls 4.7% y/y in March
Zinc
Observations
Zinc trading range for the day is 230-238
Zinc gained as Global zinc market to be in deficit for 2023
However, upside seen limited demand fell below expectations amid slow global economy
Data shows that social inventories of zinc ingots in China totalled 114,900 mt, down 21,600 mt
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