Base metals prices fell across the board on the London Metal Exchange on Tuesday August 3, with zinc experiencing the biggest drop amid a reversal of risk-on sentiment surrounding United States infrastructure and with the Covid-19 situation remaining in focus.
The three-month zinc price on the LME was down by 2.1% at 9am on Tuesday, at $2,985 per tonne, after settling at $3,050.50 per tonne at the close on Monday. Nevertheless, zinc is still trading at its highest since June 2018. The galvanizing metal's decline mirrored that experienced by three-month nickel, which fell by 1.6% to $19,205 per tonne from Monday's 5pm reading of $19,516 per tonne, and three-month copper, which decreased by 1.4% to $9,578.50 per tonne on Tuesday morning."Much of the positive momentum from the US infrastructure bill soon...