LIVE FUTURES REPORT 22/10: LME zinc price outperforms despite sell-off; copper down 1%

The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Thursday October 22, making a steady approach toward resistance at the $2,600-per-tonne threshold.

Copper futures were the laggard over the day, in spite of Wednesday’s upsurge.
Zinc’s underlying price on the LME closed at $2,578.50 per tonne on Thursday afternoon, climbing from an intraday low of $2,551 per tonne, while turnover was strong at more than 8,100 lots exchanged by the 5pm close.
Supporting the upward momentum, the cancelation in the morning of some 1,850 tonnes saw the bulk of material booked out of LME-registered warehouses in the Dutch port town of Vlissingen.

Zinc inventory held in North European warehouses continued to dwindle over October, with Fastmarkets’...


Hassan Butt

October 22, 2020

17:40 GMT