The three-month zinc price on the London Metal Exchange was the highest climber among the base metals complex during morning trading on Thursday July 2, supported by strong buying during Asian trading hours, while an 810-tonne inflow failed to stop LME nickel's price incline.
The three-month zinc price was recently at $2,064 per tonne, up by 1.1% from Wednesday's closing price of $2,041 per tonne. Turnover was strong at more than 2,500 lots exchanged as of 9:55am London time. The benchmark cash/three-month zinc spread has been gradually tightening from a $24 per tonne contango on June 22, prompting a steady influx of material back to the exchange, with the physical market said to be well stocked. Despite LME on-warrant...