Copper trading range for the day is 710.5-727.1 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 195.7-200.2
Aluminium gains as the pace of resuming production in Sichuan, Guizhou, and other regions is slow.
Yunnan will resume production in mid to late July as Yunnan is experiencing heavy rainfall rising
S&P Global said it has cut its 2023 GDP growth forecast for China
Copper
Observations
Copper trading range for the day is 710.5-727.1
Copper gains supported by low supplies amid falling inventories
The premium of LME cash copper over the three-month contract rose to $31 a tonne, a high-level unseen since November last year
On-warrant copper inventories fell to 25,725 tons, the lowest level since October 2021.
Zinc
Observations
Zinc trading range for the day is 211-217
Zinc gains as Global zinc market surplus fell to 12,500 metric tons in April
S&P has cut its forecast for economic growth in China this year
Official PMIs from China, due this week, should provide some insight into demand outlook
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