Aluminium trading range for the day is 207.1-214 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 207.1-214
Aluminum gains as China’s inventories dropped 53,000 mt from aweek ago
China’s PMI Output Index in China declined to 54.4 in April 2023from a record high of 57.0 in the previous month.
China’s Manufacturing PMI unexpectedly fell to a four-month lowof 49.2 in April of 2023 from 51.9 in March
Copper
Observations
Copper trading range for the day is 732.7-769.5
Copper gains as market to slip into deficit in 2023 on improvedChina demand
Chile's copper output falls 4.7% y/y in March
However, upside seen limited pressured by the sluggish pace ofmetals demand recovery in China
Zinc
Observations
Zinc trading range for the day is 234-240
Zinc dropped as demand fell below expectations amid slowglobal economy
Global zinc market to be in deficit for 2023
Data shows that social inventories of zinc ingots in China totalled114,900 mt, down 21,600 mt
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