IGI Logo

Aluminium

Observations

Aluminium trading range for the day is 203.8-205.7

Aluminium gains on China's decision to cut borrowing cost

Investor sentiment was aided by China's financial boost

China's central bank upbeat on Q2 GDP growth, confident on 2023 targets

Copper

Observations

Copper trading range for the day is 723.6-736.6

Copper gains as in China, refined copper output declined in May

Copper inventories at the LME were under 72 thousand tonnes in June, the lowest in one month.

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 214-225

Zinc gains with the demand outlook buoyed by China's latest economic support.

China will likely further cut banks' reserve ratio and interest rates in the second half of this year to support the economy.

Some smelters in Henan reduced production due to high sulphuric acid inventories.

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer