Base metals prices on the London Metal Exchange were significantly lower at the close of trading on Monday January 27, with the majority of three-month prices across the complex down by some 2% because of continued risk-aversion in commodity markets, with zinc futures leading the retreat to close at a six-week low.
Zinc's outright price on the LME closed at $2,249 per tonne on Monday afternoon, with turnover high at more than 9,400 lots exchanged by the close, while the price fell from an intraday high of $2,332 per tonne.Similarly, copper's decline over the afternoon was stark, with the red metal losing some 3.2% to close at its lowest price since October 16, 2019, at $5,743 per tonne. But the total volume traded topped the base metals complex at some...