Zinc trading range for the day is 211-216 - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 193.2-198.6
Aluminium dropped due to slow demand recovery in China
The official NBS Manufacturing PMI rose to 49 in June of 2023 from May's five-month low of 48.8 Aluminium
ingot social inventories in China fall again after brief accumulation
Copper
Observations
Copper trading range for the day is 703.3-719.6
Copper gains as Chile copper output falls 14% y/y in May
Headline LME copper stocks have slid from 100,100 tonnes to 77,050 over the last three weeks
Copper inventories in warehouses monitored by SHFE rose 13.1 % from last release on Jun 16.
Zinc
Observations
Zinc trading range for the day is 211-216
Zinc prices gained on Chinese stimulus hopes.
China's economic growth has slowed in recent months, raising hopes for stimulus.
The country plans to promote household consumption and has pledged more steps to boost demand.
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