LIVE FUTURES REPORT 08/01: Zinc, nickel fall more than 2%; base metals consolidate

Three-month zinc and nickel both fell by more than 2% on Friday January 8, with the LME base metals ending the week with pullbacks from the highs reached in the first days of 2021 after a US Dollar Index rebound.

Zinc’s three-month price was down 2.6% at the 5pm close on Friday at $2,813.50 per tonne, compared with Thursday's closing price of $2,888 per tonne.  Nevertheless, the galvanizing metal remains above the $2,800 per tonne threshold that it crossed on Tuesday.   And despite the pullback, zinc’s price reached an intraday high of $2,897 per tonne on Friday, just $3 shy of the 2020 high of $2,900 reached on December 21.  Similarly, nickel’s three-month price was $17,667 per tonne on Friday at 5pm, 2.4% lower than Thursday's closing price of $18,109 per tonne.  The stainless steel additive had a whirlwind week, starting with a 4.8% rise on Monday to $17,404 per tonne,...

Published

Ana de Liz

January 08, 2021

18:37 GMT

London

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