Zinc trading range for the day is 160.1-165.5. Zinc dropped as Chinas latest moves to curb shadow banking and risky investment dented the growth outlook in China. Chinas growth is set for its weakest patch since the global financial crisis as authorities pull back on the stimulus. Chinas property resale market cooled a notch in April due to intensified government curbs.
Copper trading range for the day is 357.5-365.5. Copper recovered from lows on short covering after prices dropped amid worries about Chinas slowing economic growth and tighter capital markets in China. Chinas growth took a step back in April after a surprisingly strong start to the year. The chief executive of Freeport-McMoRan said demand for copper remains strong, with Europe and North America showing steady improvement.
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