LIVE FUTURES REPORT 01/05: LME zinc price hits 2018 low but aluminium holds up

Base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday May 1, coming under pressure from a stronger dollar index.

Zinc was the largest faller of the day, down 2.5%. It bottomed out at $3,054 per tonne this afternoon, its lowest figure since December 2017. The metal’s fundamental picture was rattled last week after more than 60,000 tonnes of zinc were delivered into an LME-listed Antwerp warehouse over three days - the largest single inflow into the warehouse since 2013. Trader sentiment has been mixed, with some suggesting the move could be delivering against shorts to bring the price down. Nickel’s three-month price continues to drop closer to $13,500 per tonne. “The generally quiet trading period...

Published

Hassan Butt

May 01, 2018

18:12 GMT

London