LIVE FUTURES 03/08: Declines across board show zinc down 2%, copper down1.6%

Zinc’s three-month price fell to $2,969.50 per tonne at the close of trading on the London Metal Exchange on Tuesday August 3, with the entire base-metals complex turning lower during the day and with Covid-19-related concerns returning to prominence.

Zinc’s benchmark futures contract fell from Monday’s $3,050.50 per tonne closing price, which was the highest since June 14.
The galvanizing metal faltered at the start of the day after Shanghai Futures Exchange prices and domestic hot-rolled coil prices in China turned downward. This followed statements regarding carbon emissions reductions from a meeting last Friday of the Politburo of China’s Communist Party, which created confusion in the markets.

Despite the drop on Tuesday, zinc has been trading at its highest levels since...

Published

Ana de Liz

August 03, 2021

16:55 GMT

London