Aluminium trading range for the day is 211.8-220.2 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Aluminium
Observations
Aluminium trading range for the day is 211.8-220.2
Aluminium dropped as China's annual aluminum production in 2022 increased by 4.5% to a record high of 40.21 mln tns
The aluminium ingot social inventories across China’s markets totalled 1.19 million mt, up 143,000 mt from a week ago
China's producer prices dropped 0.8% yoy in January 2023, after a 0.7% fall in the previous month
Copper
Observations
Copper trading range for the day is 758.5-778.6
Copper dropped as persistent fears of a demand-sapping global recession offset bullish bets for China's reopening.
Las Bambas copper mine in Peru secured necessary supplies, which allowed it to continue production at a reduced rate.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 6.8 % from last Friday.
Zinc
Observations
Zinc trading range for the day is 266-279
Zinc dropped as Chinese demand remains weak and investors await inflation data next Tuesday that could hint at the direction of U.S. monetary policy.
Chinese metals inventory numbers and factory gate price data underlined continued weakness in the country
China's January factory gate prices fell more than expected, suggesting that flashes of domestic demand.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
