The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 30, climbing up by some 2.5% amid moderately high turnover, while lead futures were similarly stronger over the afternoon.
Zinc's outright price closed at $2,376 per tonne on Monday afternoon, its highest closing price since August 1, while volumes traded were at their highest since September 5 with more than 11,000 lots exchanged by the close. The galvanizing metal's elevated price comes against a number of opposing factors, namely Friday's fresh inflow of some 8,000 tonnes, in addition to a tightening forward curve. In addition, cash-buying in zinc has further...