Zinc and tin were down the most at the 9am open on June 3, while all base metals fell on the London Metal Exchange in reaction to the rising dollar and in anticipation of market-setting news for the future direction of trade.
Zinc's three-month price, which was one of three to rise on the LME on Wednesday, but was down 1% to $3,050.50 per tonne on Thursday morning. On Wednesday it had registered a third straight day of gains, rising to $3,082.50 per tonne, while on Thursday its LME stocks saw their first significant increase since May 24. with about 5,000 tonnes were delivered into warehouses in Port Klang. This was countered by a 2,000-tonne outflow from Singapore and a 1,325-tonne delivery out of the Malaysian city's sheds. Just last Friday, 10,325 tonnes were rewarranted in Port Klang, while cancellations and outflows from...