Zinc prices lower despite inventory declines

In the metals markets, gold added 0.2 percent to $581.30 per troy ounce after having dropped to $573.85 per troy ounce earlier in the session. Base metals prices, however, were down on the session. Zinc dropped 0.4 percent to $3,905 per tonne even though London Metal Exchange inventories dropped another 2,525 tonnes to 117,375 tonnes. Nickel was 0.5 percent lower to $32,250 per tonne after hitting a new record Monday. Copper fell 0.8 percent to $7,485 per tonne.