Copper trading range for the day is 716-752.2 - Kedia Advisory
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Copper
Observations
Copper trading range for the day is 716-752.2
Copper dropped inflation in China rose the slowest pace since early 2021
China’s imports contracting sharply in April amid softer domestic demand, while exports grew at a slower pace.
Chile said this year's output is estimated to sink as much as 7% after the 10.6% decline in 2022.
Zinc
Observations
Zinc trading range for the day is 227-238
Zinc dropped after China’s inflation data added to concerns over the recovery.
China's consumer prices rose at the slowest pace in more than two years in April, data showed.
S&P Global has projected that global refined zinc consumption will only grow by 1.3% in 2023
Aluminium
Observations
Aluminium trading range for the day is 203.9-209.5
Aluminum fell as the supply of aluminum in China has been increasing.
China's aluminum output increased 1.5% year-on-year to 3.35 million mt in April
Aluminum enterprises in Guangxi and Guizhou continued to resume production
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