Copper trading range for the day is 748.5-767 - Kedia Advisory
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Aluminium
Aluminium trading range for the day is 204-209.2
Aluminum gains as China has taken significant steps to boost its economy and end the strict coronavirus-induced regime
However, persistently high inventory of aluminium ingots limiting the upside
The domestic aluminium billet social inventory began to rise this week, adding 7,200 mt from a week ago to 163,400 mt
Copper
Copper trading range for the day is 748.5-767
Copper dropped amid firmer dollar while markets continued to process the sudden collapse of U.S. regional banks.
Yangshan copper premium rose to $25 a tonne, its highest since March 1, indicating improving demand
Still, green shoots of improved copper demand in top consumer China cushioned the drop in prices.
Zinc
Zinc trading range for the day is 257-264
Zinc dropped as fears over persistent interest rate hikes by the U.S. Federal Reserve weighed on investor sentiment.
Improving supply prospects also added downward pressure on the market
China's decision to set a modest 5% economic growth target for 2023 dampened some optimism around a surge in demand
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