LIVE FUTURES REPORT 12/10: China’s return sees LME zinc price up 1.2%; copper down despite fresh cancellation

The LME three-month zinc price climbed more than 1% during morning trading on Monday October 12, while the fresh cancelation of some 11,650 tonnes of copper from LME warehouses in New Orleans failed to spark upward momentum in LME futures.

Zinc’s outright price on the LME was recently trading at $2,455 per tonne, climbing from a morning low of $2,403.50 per tonne, while turnover was strong at more than 3,200 lots exchanged as of 10am London time.  China’s return after the Golden Week celebrations last week saw global stock market indices strengthen to start the week, with the Dow Jones Industrial Average recently trading 161 points higher, while the S&P 500 index notched a 30-point increase.  Yet while metal markets have followed higher, LME copper’s tight forward curve saw buying activity limited over the morning period,...

Published

Hassan Butt

October 12, 2020

10:08 GMT

London