LME zinc widens into contango after months of backwardation

摘要

The London Metal Exchange zinc price has moved into contango for the first time in more than two months, with analysts highlighting improved supply as a key factor.Zinc's cash/three-month spread is currently in a contango of $2 per tonne as of Friday August 17.The spread widened from a $9 per tonne backwardation on August 10 to $13.50 per tonne contango on August 13, and widened to $17 per tonne as of Wednesday August 15.