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Aluminium 

Observations

Aluminium trading range for the day is 207.9-211.6

Aluminum dropped as fears of a global economic slowdown andrising output from China prompted investors to unwind some longpositions

Yunnan will still face power shortages and great uncertainties inpower supply in 2023

The aluminium ingot social inventories stood at 1.269 million mt asof March 2, up 21,000 mt from last Thursday

Copper 

Observations

Copper trading range for the day is 748.1-772.5

Copper dropped as investors assessed the impact of incomingmonetary tightening against signs of stronger demand fromChina

Visible copper inventories are low by historical standards butstocks in Chinese bonded and ShFE warehouses have surged to408,680 tonnes

ShFE stocks fell by 11,475 tonnes, the first weekly fall sinceDecember, suggesting demand may be picking up

Zinc 

Observations

Zinc trading range for the day is 266-273

Zinc dropped as traders were reassessing the potential for asupply rebound and a return to zinc surplus after two years ofshortfalls

The zinc ingot social inventories in China totalled 184,100 mt as ofMarch 3, up 2,800 mt from the previous week

The Caixin China General Composite PMI jumped to 54.2 inFebruary 2023 from 51.1 a month earlier

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