The three-month zinc price on the London Metal Exchange settled firmly above nearby support levels at the close of trading on Monday August 17 after an afternoon of strong buying, while the largest tin inflow of the year prompted the metal's outright price tumble.
Zinc's underlying price on the LME closed at $2,442 per tonne on Monday afternoon, climbing from an intraday low of $2,364 per tonne, while turnover was high at more than 10,000 lots exchanged by the 5pm London close. In a bullish sign for both zinc and nickel prices on the LME, China's iron ore imports continue to rise to levels unseen in over two-and-a-half years, with steelmaking...