LIVE FUTURES REPORT 02/01: LME lead, zinc start 2018 in bullish mood; base metals consolidating

By Alice Mason / January 02, 2018 / www.metalbulletin.com / Article Link

Base metals prices were on divergent paths at the close on the London Metal Exchange on Tuesday January 2 while most prices tried to consolidate recent gains.

Zinc was one of the strongest performers today, hitting a high of $3,352 per tonne - the highest since August 2007. Lead followed its sister metal higher, closing up 2%. "Zinc has opened 2018 in a bullish mood; still, falling LME stocks suggest the underlying fundamentals remain tight," James Moore, Metal Bulletin analyst said."But the lack of fresh cancelations suggests the market has ample supply for the time being, with continued forward-selling suggesting producers still view gains as a hedging opportunity. While the price trajectory still lies to the upside amid bullish market sentiment, we maintain our overall view that the deep structural deficits...

Recent News

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com

US$ and bonds not the safe havens normally expected

April 14, 2025 / www.canadianminingreport.com

Crash driven by tech and highly cyclical sectors

April 07, 2025 / www.canadianminingreport.com

Gold stocks succumb only on second day of plunge

April 07, 2025 / www.canadianminingreport.com

Gold stocks outperform, New Found Gold down on initial MRE

March 31, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok