LIVE FUTURES REPORT 13/08: LME zinc price passes $2,300/t in 2.6% recovery; nickel nears $16,000/t

Zinc’s three-month price on the London Metal Exchange was higher at the close of trading on Tuesday August 13, appreciating by around 2.6% and settling above the $2,300 per tonne level in a continuing recovery, while strong buying in nickel saw its outright price closed in on the $16,000 per tonne resistance level.

Volumes traded in zinc were low over the day’s trading, with 7,700 lots exchanged by the close - the lowest daily total since July 30. Similarly, at just over 10,000 lots traded, nickel volumes were at their lowest level since August 6.  Staging a modest recovery, zinc futures slipped to their lowest level since October 2016 at Monday’s close, falling to an intraday low of $2,230 per tonne. The galvanizing metal closed at $2,319 per tonne on Tuesday afternoon. Meanwhile, amid a shrinking zinc-lead price differential, or switch, zinc’s recent price uptick has given...


Hassan Butt

August 13, 2019

18:17 GMT