Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions.
The three-month zinc price closed 2% lower at $2,291 per tonne, due to weak fundamentals triggering a sell-off. The metal has been retreating after it failed to stabilize above $2,300 per tonne last week.
"The stronger than expected sell-off suggests the short-term rebound since the December 3 low may have run its course," Fastmarkets analyst Andy Farida said.
"It is hardly surprising to see selling pressure returning to the complex. This is because...