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Aluminium

Observations

Aluminium trading range for the day is 206.6-215

Aluminum dropped as fears of a global economic slowdown andrising output from China prompted investors to unwind some longpositions

China's annual aluminum production in 2022 increased by 4.5%from a year earlier to a record high of 40.21 million tonnes

U.S. February ISM manufacturing PMI recorded 47.7, a mildimprovement

Copper 

Observations

Copper trading range for the day is 752.6-780.8

Copper prices dropped as Grasberg copper mine has resumedoperations

Panama and First Quantum were about to reach an agreementon the Cobre Copper Mine

JPMorgan Chase forecast copper prices to reach $9,100/mt bythe end of 2023

Zinc

Observations

Zinc trading range for the day is 263-280

Zinc dropped as traders were reassessing the potential for asupply rebound and a return to zinc surplus after two years ofshortfalls

The idled zinc smelter capacity is expected to restart, withEurope's winter energy crisis abating and power prices falling.

Chinese smelters are also powering up capacity thanks toabundant supplies of raw materials and the resulting healthyprocessing fees

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