Copper trading range for the day is 723.6 736.6 - Kedia Advisory
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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.
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