Aluminium trading range for the day is 207.9-216.4 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 207.9-216.4Aluminum dropped pressured by weak demand in China and arapid build-up of inventories in exchange warehouses.China's Yunnan province has asked aluminium producers tofurther cut their electricity usage.Roughly 800,000 mt of aluminium capacity in Yunnan will be cutwithin 10 days to combat power shortages
Copper
Observations
Copper trading range for the day is 777-789.2Copper prices slipped weighed down by a firmer dollar asinvestors gird for higher and longer interest rates by the U.S.Federal ReserveGlobal refined copper market in small surplus in December –ICSGIndia’s copper demand increased 27.5% in 2022
Zinc
Observations
Zinc trading range for the day is 269-278Zinc dropped as concerns over tepid consumption in Chinadented risk sentimentTraders were also reassessing the potential for a supply reboundand a return to zinc surplus after two years of shortfalls.The idled zinc smelter capacity is expected to restart, withEurope's winter energy crisis abating and power prices falling
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