Aluminium trading range for the day is 207.9-212.1 - Kedia Advisory
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Aluminium
*Aluminium trading range for the day is 207.9-212.1
*Aluminum gains as aluminium ingot stocks are expected to drop further.
*Support also seen as aluminium capacity in Yunnan that was previously curtailed has not yet resumed production.
*Data shows that China's aluminium output was 3.41 million mt in March (31 days), a year-on-year increase of 2.9%.
Copper
*Copper trading range for the day is 779.6-803.5
*Copper rose amid elevated demand and persistent concerns of low supply.
*China's copper imports fell 19% in March from a year earlier.
*Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.0 % from last Friday
Zinc
*Zinc trading range for the day is 249-258
*Zinc gains as dollar pressured after an unexpected fall in U.S. producer prices
*Smelter bottleneck was severe enough to generate a global supply shortfall of more than 300,000 tonnes
*Data showed that the domestic refined zinc output increased 55,300 mt or 11.03% MoM and 12.26% YoY
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