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Aluminium

Obersvations

Aluminium trading range for the day is 209.7-214.7

Aluminium prices fell pressured by weak demand in China and a rapid build-up of inventories in exchange warehouses.

Aluminium stocks in LME-registered warehouses have risen to 602,150 tonnes from 375,950 tonnes in mid-January.

Inventories in Shanghai Futures Exchange warehouses are at 268,984 tonnes, against 95,881 tonnes on Dec. 30.

Copper

Obersvations

Copper trading range for the day is 759.6-780.6

Copper dropped as dollar rose after a stronger-than-expected US CPI report

Citi revises copper 0-3month price forecast to $8,500/t from $10,000/t

China central bank: will encourage increased lending to private enterprises

Zinc

Obersvations

Zinc trading range for the day is 265-275

Zinc prices dropped after Citi lowered their zinc price forecast for the next three months to $2,900 a tonne from $3,500.

Historically low stocks behind spike in zinc price for delivery tomorrow The SHFE/LME zinc price ratio slipped to around 7.1, expanding import losses to above 3,500 yuan/mt.

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