Zinc trading range for the day is 206-213 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 205.3-211.3
Aluminium prices dropped weighed by weak demand and slowing growth around the world.
Available LME aluminium stocks fall to 4 – month low
The price for the cash aluminium contract was $40.50 a tonne higher than that for the three-month future
Copper
Observations
Copper trading range for the day is 709.6-727.8
Copper gains after a surprise rise in Chinese factory activity
China’s PMI showed that Chinese manufacturing activity unexpectedly swung to growth in May
Copper treatment and refining charges (TC/RCs) have been at a four-year high at $87.50
Zinc
Observations
Zinc trading range for the day is 206-213
Zinc gains after growth in China’s factory activities, boosting sentiment
PBoC conducted a 2 billion yuan 7-day reverse repurchase operation today, and the bid rate was 2.00%.
Zinc inventories in London Metal Exchange-registered warehouses have nearly doubled since last week to a one-year peak
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