The London Metal Exchange three-month base metals prices were predominantly subdued during morning trading on Wednesday July 22, with zinc futures leading the decline while fresh cancelations and a steady decline in the US dollar index did little to boost sentiment.
LME zinc's outright price was recently at $2,189 per tonne, a decline of over 2.5% from a morning high of $2,263 per tonne, while turnover was high at more than 4,000 lots as of 9:40am London time. A fresh inflow of some 12,850 tonnes was delivered into LME-registered warehouses in Bilbao, Port Klang and Singapore, taking total LME on-warrant zinc stocks to 112,525 tonnes and pushing the galvanizing metal's price lower. LME zinc's benchmark cash/three-month spread was recently in a...