LIVE FUTURES REPORT 14/02: Fresh 2.5kt inflow caps LME zinc price; Al down 1% despite stock drawdowns

The three-month zinc price on the London Metal Exchange was lower during morning trading on Friday February 14, with positive price action stymied by a fresh inflow of some 2,475 tonnes, while ongoing drawdowns in aluminium failed to bolster its falling price.

Zinc’s outright price on the LME was recently seen at $2,150 per tonne, down by just under 1% from Thursday’s closing price of $2,175 per tonne. Turnover was moderate at some 2,300 lots exchanged as of 9:20am London time.
Prompting zinc’s price weakness, continued inflows of material into LME-registered warehouses in Europe have seen prices fall from a 2020-high of $2,459.50 per tonne on January 22.

This morning’s inflow was delivered into Bilbao sheds,...

Published

Hassan Butt

February 14, 2020

10:28 GMT

London