LIVE FUTURES REPORT 21/10: LME zinc price nears $2,500/t in continued uptrend; fresh cancelations boost complex

The zinc price was nearing $2,500 per tonne on the upside in morning trading on Monday October 21 on the London Metal Exchange, with stock drawdowns boosting prices across the base metals.

The three-month zinc price was recently at $2,472 per tonne, up from its close of $2,457 per tonne on Friday after 2,500 tonnes of zinc were booked out of LME-registered warehouses in New Orleans, taking on-warrant material to just above 40,000 tonnes. Although zinc is nearing resistance at $2,500 per tonne, which it has failed to breach since July, the forward curve remains tight....


Hassan Butt

October 21, 2019

10:22 GMT