LIVE FUTURES REPORT 15/09: Fresh cancelation buoys LME zinc above $2,500 in thin vol trading

The London Metal Exchange three-month zinc price increased marginally during the morning on Tuesday September 15, with a fresh cancelation of some 6,275 tonnes keeping its price above nearby support while thin volumes traded in Asia, despite better than expected economic data out of China.

LME zinc’s outright price was recentl at $2,516.50 per tonne on Tuesday, holding above the nearby $2,500-per-tonne support level and improving from Monday’s closing price of $2,480.50 per tonne despite less than 500 lots traded as of 9:30am London time.  Prompting LME zinc's price strength, this morning’s fresh cancelation meant around 5,625 tonnes were booked out of LME-registered warehouses in Port Klang, while some 500 tonnes were booked out of Singapore and 150 tonnes out of Rotterdam.  Yet with total LME zinc stocks now at...

Published

Hassan Butt

September 15, 2020

09:25 GMT

London