The three-month zinc price on the London Metal Exchange was the standout performer during morning trading on Monday August 17, pushing past the $2,400-per-tonne resistance level despite continued stock inflows, while nickel futures continued their ascent against a wide forward curve.
Zinc's outright price on the LME was recently trading at $2,426 per tonne, up 2.5% from $2,367.50 per tonne at the close on Friday, while turnover was high at more than 5,000 lots exchanged as of 9:45am London time. Strong buying in LME zinc comes despite a fresh stock inflow of some 7,200 tonnes this morning, with the bulk of material entering LME sheds in Singapore, while a continued build-up of material in New...