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Aluminium

Observations

Aluminium trading range for the day is 216.1-220.9

Aluminum gains after reports smelters in Guizhou and Yunnan maintained production cuts.

China's annual aluminum production in 2022 increased by 4.5% from a year earlier to a record high of 40.21 million tonnes

U.S. plans 200% tariff on Russian aluminum

Copper

Copper trading range for the day is 767.5-783.6

Copper bounced back, helped by a subdued dollar while investors weigh supply disruptions against demand concerns.

LME copper inventory falling to 65,100 tonnes, lowest since November 2005.

Investors have been betting on a recovery in China after the country removed its strict COVID-19 restrictions.

Zinc

Observations

Zinc trading range for the day is 273-282

Zinc dropped as investors have been betting on a recovery in China after the country removed its strict COVID-19 restrictions.

The global zinc market deficit climbed to 119,500 tonnes in November from a revised deficit of 39,400 tonnes a month earlier

Glencore's zinc production in 2022 was 938,500 mt, down 16% from 1.12 million mt in 2021.

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