LIVE FUTURES REPORT 14/07: LME zinc price wipes out Monday’s gains in 2% decline; China imports climb

The three-month zinc price on the London Metal Exchange was the standout underperformer during morning trading on Tuesday July 14, wiping out gains made on Monday amid continued market volatility.

Zinc’s outright price on the LME was recently seen at $2,208.50 per tonne, falling by more than 2% from Monday’s closing price of $2,261.50 per tonne, while turnover was moderate at over 3,600 lots exchanged as of 10am London time. Monday’s liquidity boost to the tune of $3 trillion from the US government served as a key tailwind for LME base metals prices, while a weaker US dollar index continues to support higher prices, with the index recently trading at a level of 96.5. Yet customs data from...

Published

Hassan Butt

July 14, 2020

10:53 GMT

London