77,000 tonnes of zinc rewarranted in LME's New Orleans sheds

Some 77,350 tonnes of zinc in London Metal Exchange warehouses in New Orleans have been made available as cancelled warrants for the material were reissued.

The main suggestion from market participants was that the rewarranting sprang from a deal that fell through following a large cancellation seen on August 26, when zinc prices were trading at $1,690-2 – their lowest since June 2010. “This is just a reversal of the cancellation from a couple of weeks ago,” a trader said early in the day. “Somebody made a mess of what they were trying to do, and everybody knew that the material...

Published

James Heywood

September 10, 2015

18:45 GMT

London