Copper fell as expectations grew that interest rates will remainhigher - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 206.1-210.9
Aluminium dropped as data from China indicated a continueddownward trend.
Global aluminium output up 0.3% y/y to 5.6 mln T in April – IAI
China exported 73,115 tonnes of alumina last month, down 56.4%on an annual basis
Copper
Observations
Copper trading range for the day is 700.1-723.7
Copper fell as expectations grew that interest rates will remainhigher
Concerns about China metals demand also weighed onsentiment
BofA reinforces copper 4Q23 forecast at $10,000/t ($4.54/lb)
Zinc
Observations
Zinc trading range for the day is 210-223
Zinc dropped as the global zinc market surplus climbed to 26,700tonnes in March
During the first three months of 2023, ILZSG data showed a surplusof 49,000 tonnes
The refined zinc output in China rose 8.97% year-on-year to540,000 mt.
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