Zinc's three-month price on the London Metal Exchange had climbed moderately by the close of trading on Wednesday June 4, with the morning's cancelation of more than 15,000 tonnes not enough to push the price higher than $2,500 per tonne.
Volumes traded in the galvanizing metal topped the complex by the close, however, indicating strong buying interest over the day's trading.More than 11,000 lots of zinc changed hands by the close, while the metal's three-month price settled at $2,475.50 per tonne at the end of the day.But persistent tightness across zinc's forward curve on the LME has kept participants wary of spot business, with storage and finance costs higher because the metal's cash/three-month spread recently traded in a backwardation...