LIVE FUTURES REPORT 12/06: LME zinc price holds above $2,500 per tonne despite tight spreads

Zinc’s three-month price on the London Metal Exchange stayed above $2,500 per tonne at the close of trading on Wednesday June 12, with the moderate volumes traded indicating continued buying interest despite the cash/three-month spread being in a sizeable backwardation.

The galvanizing metal showed a little more than 8,000 lots exchanged by the close, with total volumes valued at around $100 million at the current price. This came after more than 13,000 lots of zinc were exchanged on Tuesday, the most since May 31 – and prior to that, since March 15. Yet the metal’s three-month price could be under downside pressure, analysts said. The metal’s resilience above $2,500 per tonne was despite zinc’s cash/three-month...


Hassan Butt

June 12, 2019

18:15 GMT