LIVE FUTURES REPORT 12/08: LME zinc price rallies 2%; lead supported by Nyrstar’s Port Pirie shutdown

Most base metals prices on the London Metal Exchange were little changed on Monday August 12, except zinc which rallied by nearly 2%.

The three-month zinc price was up $44 at the close to $2,278 per tonne. It has rebounded after hitting its lowest since September 2016 at the close on August 9. LME zinc stocks totaled 75,975 tonnes on Monday, up slightly from a recent low of 73,125 tonnes but 41% of total stocks are booked for removal. Shrinking availability of zinc in the LME system is supporting the the three-month price rebound. “The latest Commitment of Traders...

Published

Alice Mason

August 12, 2019

17:41 GMT

London