LIVE FUTURES REPORT 05/03: LME lead, zinc prices fade further after stocks surge

Lead and zinc prices on the London Metal Exchange both closed lower on Monday March 5, reflecting recent stock increases.

Zinc hit a two-month low of $3,273.50 per tonne today after a massive 78,950-tonne delivery into LME-listed warehouses in New Orleans. The metal was still $59 per tonne lower at $3,296 at the 5pm London close. The metal’s cash/three-month spread briefly swung back into contango for the first time this year although it had returned to a backwardation of $3 per tonne by the close. “Today’s stock surge serves as a reminder of how much metal could still be lurking in off-market finance deals. There is increasing pressure from tight spreads while the US Federal Reserve continues to tighten monetary policy,” Metal...

Published

Alice Mason

March 05, 2018

17:56 GMT

London