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Aluminium trading range for the day is 207-210.4 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 207-210.4
Aluminium gains as China April output down 1.2% on power curbs
Yunnan relies heavily on hydropower for power generation buthas asked aluminium producers to cut production
Japan aluminium stocks down 3.3% m/m in April
Copper
Observations
Copper trading range for the day is 711.2-728
Copper fell as dollar rose and LME inventories continued to rise.
Copper concentrate market to face steep deficit from 2025
On-warrant copper stocks in LME warehouses at 6-month peak
Zinc
Observations
Zinc trading range for the day is 220-229
Zinc prices dropped as Global zinc market surplus rises
During the first three months of 2023, ILZSG data showed a surplusof 49,000 tonnes
Refined zinc production also fell last year to the tune of 3.8% butit will bounce back by a robust 3.1% this year
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