LIVE FUTURES REPORT 09/08: LME zinc sinks 3% in ongoing decline; nickel above $15,500/t

Zinc’s three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline.

Turnover across the exchange was fairly light over the day’s trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close. Copper was second at 10,200 lots, while zinc volumes came in third at 8,900 lots exchanged by the close. 
The base metals complex was broadly lower over the afternoon, though zinc futures were the biggest poor performer on the day, dipping below the $2,300-per-tonne support level to close at $2,234 per tonne. 

Despite the selling momentum however, LME zinc stocks remain on the decline, with some 375...


Hassan Butt

August 09, 2019

17:55 GMT