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5/07/2023 9:33:19 AM | Source: Kedia Advisory
Copper trading range for the day is 713.5-720.9 - Kedia Advisory
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Aluminium

Observation

Aluminium trading range for the day is 194.7-197.1

Aluminum gains on short covering after prices dropped amid strong supply

China's Yunnan region ramps up aluminium production as power curbs eased

Data from May showed that aluminum imports into China grew 1.8% from the corresponding period of the previous year

Copper

Observation

Copper trading range for the day is 713.5-720.9

Copper gains amid heightened expectations for economic stimulus measures in China

Declining inventories indicated a tighter market.

The premium of LME cash copper over the three-month contract rose to $31 a tonne, indicating tightening nearby supplies.

Zinc

Observation

Zinc trading range for the day is 210-219

Zinc gains amid expectations China would undertake more stimulus measures

Global zinc market surplus fell to 12,500 metric tons in April, down from 65,000 tons a month earlier

China's factory activity growth slowed in June, with sentiment waning

 

 

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