LIVE FUTURES REPORT 13/05: LME zinc price sheds 2.6% on fresh European inflows; copper nears $6,000/t

Zinc’s three-month price on the London Metal Exchange fell by more than 2% at the close of trading on Monday May 13 following the fresh inflow of more than 8,000 tonnes into LME-registered warehouses in Europe.

Total on-warrant LME zinc stocks are now above 90,000 tonnes for the first time since January and are trending higher after falling to a record-low of 41,900 tonnes in March. More than 30% of on-warrant material is now held in Rotterdam with deliverable stock levels in the region at their highest since 2014. The metal’s three-month price has dipped below $2,600 per tonne, closing at $2,567 per tonne with more than 10,000 lots changing hands by the close. Despite consistent inflows however, zinc’s nearby cash/three-month spread is now trading in its...

Published

Hassan Butt

May 13, 2019

17:41 GMT

London