LIVE FUTURES REPORT 14/08: LME zinc price weakness continues; tin holds above $17,000 per tonne

The three-month price of zinc on the London Metal Exchange continued to slide at the close of trading on Wednesday August 14, slipping below the support level at $2,300 per tonne amid a 2.8% selloff, while tin futures held on to gains above the $17,000 per tonne threshold.

Volumes traded over the day were moderately low, with copper’s 13,234 lots topping the complex, while 11,200 lots of aluminium, 9,200 lots of nickel and 8,400 lots of zinc were exchanged. Just 200 lots of tin traded over the day. Zinc’s three-month price closed at $2,256 per tonne, down from an intraday high of $2,332 per tonne, with the metal’s outright price continuing to trade either side of the $2,300 per tonne threshold. While LME zinc stocks remained moderately low at 74,475 tonnes, canceled stock in zinc led the complex, with some 29,825 tonnes booked out of LME-registered warehouses,...


Hassan Butt

August 14, 2019

18:08 GMT