The three-month zinc price on the London Metal Exchange continued its sell-off at the close of trading on Wednesday November 13, recording moderate turnover, while tin's outright price teased a break below nearby support.
Zinc futures on the LME closed at $2,422 per tonne on Wednesday, the lowest closing price for the metal since October 16. Turnover was broadly average at just over 7,400 lots exchanged by the close. A fresh cancellation of some 1,150 tonnes of zinc out of LME-registered warehouses in New Orleans has left on-warrant material at just 31,075 tonnes - the lowest level in over a decade. Zinc ingots held in New Orleans began the year at more than 80,000 tonnes, with one trader indicating that the...