LIVE FUTURES REPORT 16/06: Zinc down 1.9%; nickel falls to $17,500/t

Base metals prices weakened further during morning trading on the London Metal Exchange on Wednesday June 16, on news that the Chinese state reserve will sell copper, aluminium and zinc to ensure price stability.

The three-month zinc price was down by 1.9% at 9am on Wednesday to $2,972 per tonne from its previous closing price of $3,029 per tonne.
The metal had resisted sharp falls across the complex on Tuesday, losing just 0.5% from its Monday close, while copper and nickel both fell by 4% on the day.

The Chinese National Food & Strategic Reserves Administration will conduct sales of copper, aluminium and zinc in batches, it said on Wednesday, during which bids would be invited,...

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