Zinc trading range for the day is 209-215 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 202.2-205.8
Aluminium dropped amid a firmer dollar ahead Fed rate decision.
Investor sentiment was aided by China's financial boost
China's central bank upbeat on Q2 GDP growth, confident on 2023 targets
Copper
Observations
Copper trading range for the day is 714.4-725.2
Copper dropped as investors continue to assess the global economic outlook
Copper stocks on the SHFE declined 11.7% to a six-month low of 76,473 metric tons
LME's on-warrant copper stocks resumed decline after Thursday's growth
Zinc
Observations
Zinc trading range for the day is 209-215
Zinc dropped as Chinese refined zinc output rose 4.54% MoM and 9.56% YoY
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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