LIVE FUTURES REPORT 18/10: LME base metals weaken at the close; zinc continues to buck the trend

Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday October 18 because of a firmer dollar but zinc continued to rally thanks to low stocks and the threat of more US sanctions.

Copper closed below $6,200 per tonne for the first time this week while nickel hit a one-month low of $12,200 per tonne this afternoon but recovered to close at $12,350 per tonne. Lead was the worst performer, pushing nearer to $2,000 per tonne. “Lead is retesting support after recent gains ran into overhead resistance. The tight market fundamentals continue to limit dips for now but despite the fact visible stocks continue to shrink the market remains reluctant to push prices higher,”...

Published

Alice Mason

October 18, 2018

17:48 GMT

London