Aluminium trading range for the day is 207.7-209.6 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 207.7-209.6
Aluminum gains as inventories across China’s stood at 835,000 mt, down 18,000 mt
China composite PMI falls to 3-month low
China services sector growth stays robust
Copper
Observations
Copper trading range for the day is 740.1-761.7
Copper prices rose as low inventory levels provided a cushion.
Copper inventories in SHFE warehouses fell to their lowest levels since Jan. 13 to 134,919 tonnes.
Inventories at the London Metal Exchange were at under 60 thousand tonnes, the least since 2005
Zinc
Observations
Zinc trading range for the day is 237-241
Zinc gains as global refined zinc market is likely be in a deficit in 2023
Zinc social inventories in China totalled 118,000 mt, down 18,500 mt
LME zinc inventories remained close to levels not seen since 1989.
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