Zinc trading range for the day is 165.7-170.5. Zinc prices dropped as pressure continues on fresh signs of a slowdown in Chinese demand. Concerns over liquidity squeezes in China seem to be the main driving force. The premium for cash zinc versus the three-month price traded at its highest since Feb. 20, indicating tightening nearby supply.
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Copper trading range for the day is 354.5-362.1.Copper dropped as the market fretted about weak demand in top consumer China after data showed the countrys imports of the metal falling. LME stocks remain near their highest since last October, fuelling pessimism over demand following hefty inflows in LME warehouses last week.Chinese imports of copper collapsed more than 30 percent in April from a month ago to 300,000 tonnes.
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