Trade uncertainties weigh on prices Tightness in LME spreads has flared out over the past week with the cash/three-month backwardation reaching $150.50 per...
Zinc prices are retesting support below $2,600 per tonne at the start of this week after the three-month benchmark stalled Thursday at $2,646.50 per tonne. Escalating trade tensions are at the root of the weakness, with Chinese authorities announcing an increase in duties on $60 billion worth of US goods from June 1 in retaliation to higher tariffs imposed by the US on $200 billion worth of Chinese products.
Deep backwardation fails to attract stocks
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