Zinc prices on the London Metal Exchange came under further pressure during morning trading on Thursday April 5, with on-warrant stocks rising 16%.
The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to 166,650 tonnes. The rest of the complex made a slight recovery with potential talks between the United States and China around trade tensions improving market sentiment. But traders were awaiting further clear direction before taking any significant actions. "There seems to be nothing concrete today. Uncertainty around Section 232 exemptions remain, with US premiums remaining stable. Trade war details will dictate future prices,...