Zinc was lower at the close of trading on the London Metal Exchange on Thursday August 1, falling by some 1.3%, although nickel eked out some gains above $14,500 per tonne.
Zinc and lead futures were the day's underperformers, closing at $2,404 per tonne while and below resistance at $2,000 per tonne respectively. The zinc-lead price differential, or switch, continues to narrow from earlier this year, closing at $414 per tonne this afternoon. The switch breached $1,000 per tonne in April when zinc's three-month price neared $3,000 per tonne. Zinc's outright price has been trending lower since reaching a 2019 high of...