LIVE FUTURES REPORT 23/12: LME zinc price drops 2%; low trading volumes for base metals

Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions.

The three-month zinc price closed 2% lower at $2,291 per tonne, due to weak fundamentals triggering a sell-off. The metal has been retreating after it failed to stabilize above $2,300 per tonne last week.

“The stronger than expected sell-off suggests the short-term rebound since the December 3 low may have run its course,” Fastmarkets analyst Andy Farida said.

“It is hardly surprising to see selling pressure returning to the complex. This is because...

Published

Alice Mason

December 23, 2019

17:11 GMT

London