LIVE FUTURES REPORT 06/02: Fresh inflow puts LME zinc below $2,200/t; copper consolidates despite 10kt cancelation

The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday February 6, with a fresh inflow of some 3,475 tonnes pressuring its price action, while copper was little moved despite a fresh cancellation of 10,250 tonnes.

Zinc’s outright price on the LME was recently trading at $2,192 per tonne, a drop of 1.2% from Wednesday’s closing price of $2,213 per tonne.  Turnover in zinc was high this morning, with just under 3,900 lots exchanged as of 9:30am London time, second to just over 10,000 lots of copper traded.  This morning’s zinc inflow was shipped into LME-registered warehouses in Singapore, taking on-warrant material in the region to 7,700 tonnes. LME sheds in Kaohsiung continue to hold the largest zinc...

Published

Hassan Butt

February 06, 2020

10:32 GMT

London