Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling 1.1% over the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions.
"The base metals complex this morning remains uninspiring, with most metal prices struggling to attract dip-buying interest. The LME zinc price is still trading near its 2018 low and remains vulnerable to further downside pressure," Metal Bulletin analyst Andy Farida said in this morning's Zinc Today report. "Even though it is technically oversold for the short term, the LME zinc price remains vulnerable to the downside, with another fresh 2018 low in store," he added. Pressured by ongoing trade worries between the US and other major economies, and marred further by a slowdown in...