Aluminium trading range for the day is 207.4-212 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 207.4-212
Aluminum gains amid rapid decline in global aluminium ingot inventories
The aluminium ingot social inventories across China stood at 706,000 mt, down 81,000 mt from a week ago
China's April aluminium imports rise with domestic supply constrained
Copper
Observations
Copper trading range for the day is 715.8-732.2
Copper gains as Shanghai warehouse copper stocks down 13.4%
Copper market to slip into deficit in 2023 on improved China demand.
Industrial production in China rose by 5.6% annually in April, well below market expectations of a 10.9% jump.
Zinc
Observations
Zinc trading range for the day is 221-229
Zinc gains as China zinc ingot social inventory down 5,500 mt from May 15
The refined zinc output in China declined 16,700 mt or 3.01% month-on-month
The global zinc market surplus climbed to 26,700 tonnes in March, from a surplus of 22,800 tonnes a month earlier
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