The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.
The forward spreads remained favorable for holding onto the galvanizing metal, with the benchmark cash-to-three-month spread recently trading in a contango of $13.50 per tonne.A total of 71,900 tonnes of zinc stocks remained on warrant in LME-registered warehouses on Thursday, with just 550 tonnes of metal outflow...