LIVE FUTURES REPORT 19/10: LME zinc price continues upsurge; tin breaches $18,600 in steady contango

The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday October 19, rallying by more than 2.5% against positive forward spreads and robust demand.

Meanwhile, a firm contango for LME tin resulted in high trading volumes pushing the metal’s outright price to a 14-month high. Zinc’s outright price on the LME closed at $2,491 per tonne on Monday afternoon, its highest closing price since September 7, while turnover was moderate at just over 7,300 lots exchanged by the close. Demand for zinc continued to strengthen against a recovery in consuming-sector usage in the steel and automotive industries, with the bulk of this demand in Asia. This was despite a healthy inventory of...

Published

Hassan Butt

October 19, 2020

17:37 GMT

London