Base metals traded on the London Metal Exchange broadly increased due to a weaker US dollar index, which was down 0.08 to 97.17 during the morning session on Monday July 8.
And inventory outflow was recorded for all metals bar tin as of 9am on the same day, with demand for metals across the complex being mostly supporting prices. The zinc price was the exception, with the three-month price trading down 0.4% at around $2,397 per tonne from the July 5 close. Significantly, the galvinizing metal's cash price has reached its lowest level since September 2018, trading around $2,392.88 per tonne on Monday July 8.But LME inventory movements are not supportive of downward price action in...