LIVE FUTURES REPORT 26/02: Zinc down 5%, tin falls $1,000 in month-end consolidation

All futures prices on the London Metal Exchange showed decreases of more than 3% at the close of trading on Friday February 26, with a mix of consolidation and profit-taking on the base-metals complex just a few days after they all rallied to new year-to-date highs.

Lead and zinc’s three-month prices were down by 5% and 3.4% respectively at the 5pm close, to $2,052.50 per tonne and $2,792.50 per tonne respectively, and at their lowest since February 10. Tin’s price, meanwhile, was down by 4.4% to $25,664 per tonne from $26,840 per tonne on Thursday, when it hit a high of $27,500 per tonne. Its cash-to-three-month backwardation spread fell to less than $1,000 per tonne at the close for the first time since February 9, with a reading of $875 per tonne. Elsewhere, copper’s price was down by 3.6%...


Ana de Liz

February 26, 2021

18:20 GMT