LIVE FUTURES REPORT 09/01: Stock inflow tempers LME zinc under $2,400/t; Al consolidates

The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.

Zinc’s outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month high of $2,416 per tonne, while volumes traded over the day were high with more than 10,000 lots exchanged by the close.  The metal’s upward price momentum was fueled, in part, by the steady decline in LME stocks, which remain low at 43,250 tonnes on-warrant. Including today’s fresh...

Published

Hassan Butt

January 09, 2020

18:10 GMT

London