Zinc backwardation eases in LME ring trading, prices steady
Dec 20, 2011 | 09:09 AM
|
Tightness in the tom-next zinc spread eased in trading on the London Metal Exchange on Tuesday after shorts settled outstanding positions with physical deliveries on to the exchange.
Three-month zinc prices were steady at $1,853/54 per tonne on Tuesday, down $4/3 from Monday’s official price, but as official trading got underway the tom/next spread was trading at a $0.25 backwardation, compared to a $2 back earlier in the day.
The cash-January spread was also easing after some 43,700 tonnes of zinc was....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here