LIVE FUTURES REPORT 16/02: LME metals drift; Al holds steady on Chinese supply fears

Base metals, with the exception of tin, were drifting lower during Thursday February 16 trading as the previous rally faltered.

The three-month zinc price is $4 lower at $2,866 per tonne. Earlier this week it had looked set to test $2,985 – a break above this level would have taken it to multi-year highs. "Zinc has also caught a decent bid today with onshore buying mopping up residual Western selling after what was a poor close yesterday. The sentiment towards zinc has turned slightly negative after a few sessions where demand has waned and CTA programs have happily sat on the offer but after last year it never feels that comfortable being short,"...

Published

Kathleen Retourné

February 16, 2017

08:16 GMT

London