Zinc's three-month price on the London Metal Exchange was higher during morning trading on Tuesday March 26, with price action keeping firmly above $2,800 per tonne, while the rest of the complex consolidates lower amid dampened investor sentiment.
Contributing to the slump in price action, weaker than expected manufacturing data last week from both the United States and Europe continue to indicate a slowdown in commodity consumption. This week, benchmark US 10-year treasury yields fell to more than a one-year low, spurring an inversion in the yield curve, which is indicative of economic recession. "Yesterday figures published by the January World Trade Monitor showed trade decline 1.8% year on year in three months through January - this is the sharpest drop since May 2009 and paints a picture of...