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Zinc trading range for the day is 208-219 - Kedia Advisory
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Aluminium
Observation
Aluminium trading range for the day is 203.2-205.5
Aluminum gains supported by hopes of stimulus from China.
China’s operating aluminium capacity rose to 40.92 million mt at the end of May
China’s aluminium output rose 1% year-on-year to around 3.47 million mt in May
Copper
Observation
Copper trading range for the day is 713.5-732.2
Copper dropped on profit booking after prices gained as SHFE inventories fell
LME on-warrant copper inventory dropped 19.9%, the biggest daily slump since October 2022
Global manufacturing PMI for May continued to fall MoM
Zinc
Observation
Zinc trading range for the day is 208-219
Zinc gains on hopes of stimulus measures from top metals consumer China.
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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