The three-month LME zinc price pushed up in morning trading on Friday June 19 and is now making a steady approach toward the $2,100 per tonne threshold, while more fresh cancellations kept copper's price elevated.
Zinc's underlying price on the London Metal Exchange was recently trading at $2,085 per tonne, making further gains after reaching a four-month high of $2,052 per tonne at Thursday's close. Turnover in zinc was high over the morning session, with more than 3,900 lots exchanged as of 9:55am London time.Total LME open interest in zinc has continued to shrink this week, falling by another 5,924 positions overnight to 237,021 total open positions. The metal's benchmark cash/three-month spread, meanwhile, held in a...