LIVE FUTURES REPORT 10/10: LME zinc price nears $2,400 per tonne; copper gathers momentum

The three-month zinc price on the London Metal Exchange was higher at the close of trading on Thursday October 10, nearing the $2,400 per tonne resistance level against a continued drawdown of LME stocks, while copper breached nearby resistance amid moderate turnover.

Zinc’s outright price closed at $2,388 per tonne in the afternoon, its highest price since August 1, while volumes traded were high with more than 12,300 lots exchanged by the close. Vedanta’s Skorpion zinc refinery will shut for a period of four months in November due to a lack of local concentrate feed, the company said on October 10 in a response to questions from Fastmarkets. Skorpion is an integrated zinc mining and smelting operation in Namibia. It produced 90,000 tonnes of...

Published

Hassan Butt

October 10, 2019

18:00 GMT

London