Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer.
The three-month zinc price closed nearly 2% higher, having earlier peaked at $2,437 per tonne.Tight supply and high zinc premiums are propelling it higher while warrants are tightly held - one entity accounts for 50-79% of all warrant positions. "Market indicators suggest production cuts by Chinese smelters are starting to create significant structural tightness, with exchange stocks continuing to signal that availability remains tight," Metal Bulletin analyst James Moore said. "This...