LIVE FUTURES REPORT 29/03: LME base metals prices improve on continued trade optimism; Zinc closes above $2,900/t

Base metals price on the London Metal Exchange were mostly higher at the close of trading on Friday March 29, with copper and zinc outperforming.

Despite continued strength in the US dollar, risk appetite has improved. The three-month copper price closed almost 2% higher while volumes exceeded 20,000 lots. The metal’s on-warrant stock count has recovered slightly over March after reaching its lowest since 2005 at 21,600 tonnes on February 28.  The LME’s most recent discussion paper on warehousing, released this afternoon, goes some way to address falling LME inventory and queue build-up over the first quarter of 2019.  Meanwhile, tightness...

Published

Hassan Butt

March 29, 2019

17:40 GMT

London