LIVE FUTURES REPORT 26/04: LME zinc price ignores fresh inflows, climbs 1.2%; tin stock reach lowest level since 1989
Zinc’s three-month price on the London Metal Exchange ticked higher during morning trading on Friday April 26, making headway back towards $2,800 per tonne and shrugging off fresh inflows of just under 4,000 tonnes into European locations.
This month, more than 30,000 tonnes of zinc have been delivered into LME-registered warehouses, with over 20,000 tonnes sent to European warehouses in Rotterdam, Antwerp and Vlissingen, taking zinc’s on-warrant stock count above 78,000 tonnes. Last month, the galvanizing metal’s deliverable stock levels reached critical lows at just over 40,000 tonnes available to the market, prompting the metal’s three-month price to trade just below $3,000 per tonne – its highest level since June 2018. Since then however, zinc futures have shed around 7% to trade between $2,700 per tonne…
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