The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 23, closing above the $2.300 per tonne threshold and topping the gains in the base metals complex, while sister-metal lead fell furthest over the afternoon.
Zinc futures closed at $2,331 per tonne in the afternoon, breaching nearby resistance despite moderately thin turnover, with just over 5,000 lots of zinc exchanged over the day.Price movements in the galvanizing metal remained range-bound below $2,400 per tonne through August-September, breaching the resistance level briefly on September 16.Yet despite choppy pricing, the metal's LME stock levels remained on a downtrend, with on-warrant material now close to its lowest level since 2009 at 39,025 tonnes."Speculative funds sentiment toward zinc metal remains fairly bearish. The metal ran into fresh...