Monthly Metal Review

Overview

Federal Reserve Chairwoman Janet Yellen said the Fed expects to continue gradually raising short-term interest rates as solid growth, a strong labor market and a healthy global economy lift prices, even as inflation has been surprisingly low. Yellen sounded a cautionary note on still-weak inflation in the U.S. and abroad. But she said the strength of the economy will warrant gradual increases, without saying when the next rate hike would happen. Meanwhile, stronger-than-expected U.S. third-quarter GDP data helped strengthen the dollar. The U.S. economy grew at a 3 percent rate in the July-September quarter, following a 3.1-percent second-quarter gain. It was the strongest two-quarter showing since back-to-back gains of 4.6 and 5.2 percent in the second and third quarters of 2014. The economy accelerated this summer despite hurricanes Harvey and Irma, which many economists believe shaved at least 0.5 percent off growths. As the Trump administration turns the U.S.’s focus inward, analysts at The Economist in London maintain that Xi Jinping, China’s President and Communist Party boss, is the world’s most powerful world leader. Xi received another five years as China's leader at October's Communist Party Congress. Still, the influential Economist said one-man rule is ultimately a formula for instability in China, and arbitrary behavior abroad. Others note that he is organized and fully in charge and predict managed growth. China's economic growth is still above target, official figures show. The euro posted its worst week of the year after the dovish European Central Bank decided in late October to prolong its bond buying to keep interest rates low. Europe's political order was rife with disruptions, pending and immediate. As Spain was shedding remnants of its financial crisis, Madrid moved to stymie a Catalan independence movement. Investors were wary, and banks and businesses talked of moving from Catalonia. In Britain, efforts to avoid a chaotic Brexit produced little. In Germany, far-right representatives were in Parliament for the first time in some 70 years, and the U.S. CIA director said North Korea could be just months from developing the ability to strike the U.S. with a nuclear-armed ballistic missile. Saudi Arabia's biggest metals producer, Saudi Arabian Mining, is shopping internationally, looking to buy or merge with industrial-metals miners. Maaden, as SAM is known, said it wants to use the Saudi sovereign wealth fund’s world relationships and build on them to be a major global player. Midmonth oil prices spiked as fighting broke out between Iraqi forces and Kurdish fighters near the oil-rich city of Kirkuk. Conflict followed the Kurdistan regional government’s September independence referendum.

Daily Prices

November 2017

Copper
Date(Fix.) ($/MT)
Average 6814.50
21-11-2017 6828
20-11-2017 6752
17-11-2017 6728.5
16-11-2017 6764
15-11-2017 6715.5
14-11-2017 6822.5
13-11-2017 6768
10-11-2017 6797
09-11-2017 6777
08-11-2017 6812
07-11-2017 6863
06-11-2017 6902.5
03-11-2017 6914.5
02-11-2017 6855
01-11-2017 6918
Silver
Date(Fix.) ($/OZ)
Average 17.02
21-11-2017 17
20-11-2017 17.145
17-11-2017 17.085
16-11-2017 17.04
15-11-2017 17.115
14-11-2017 16.935
13-11-2017 16.925
10-11-2017 17
09-11-2017 17.1
08-11-2017 16.995
07-11-2017 17.005
06-11-2017 16.915
03-11-2017 17.085
02-11-2017 17.08
01-11-2017 16.94
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1280.09
21-11-2017 1280
20-11-2017 1292.35
17-11-2017 1283.85
16-11-2017 1277.7
15-11-2017 1285.7
14-11-2017 1273.7
13-11-2017 1278.4
10-11-2017 1284.45
09-11-2017 1284
08-11-2017 1282.25
07-11-2017 1276.35
06-11-2017 1271.6
03-11-2017 1275.3
02-11-2017 1276.4
01-11-2017 1279.25
Date(Fix.) ($/OZ)
Average 1279.77
21-11-2017 1281.65
20-11-2017 1289.275
17-11-2017 1284.1
16-11-2017 1278.85
15-11-2017 1283.95
14-11-2017 1274.15
13-11-2017 1278.175
10-11-2017 1284.375
09-11-2017 1284.4
08-11-2017 1283.125
07-11-2017 1275.975
06-11-2017 1271.25
03-11-2017 1271.25
02-11-2017 1277.8
01-11-2017 1278.15
Date(Fix.) ($/OZ)
Average 1279.44
21-11-2017 1283.3
20-11-2017 1286.2
17-11-2017 1284.35
16-11-2017 1280
15-11-2017 1282.2
14-11-2017 1274.6
13-11-2017 1277.95
10-11-2017 1284.3
09-11-2017 1284.8
08-11-2017 1284
07-11-2017 1275.6
06-11-2017 1270.9
03-11-2017 1267.2
02-11-2017 1279.2
01-11-2017 1277.05
Lead
Date(Fix.) ($/MT)
Average 2469.20
21-11-2017 2460.5
20-11-2017 2429.5
17-11-2017 2409
16-11-2017 2424
15-11-2017 2420
14-11-2017 2477
13-11-2017 2502
10-11-2017 2547
09-11-2017 2504
08-11-2017 2499
07-11-2017 2483
06-11-2017 2490
03-11-2017 2475
02-11-2017 2466
01-11-2017 2452
Zinc
Date(Fix.) ($/MT)
Average 3242.97
21-11-2017 3205.5
20-11-2017 3199.5
17-11-2017 3199.5
16-11-2017 3206
15-11-2017 3190.5
14-11-2017 3224
13-11-2017 3244
10-11-2017 3289.5
09-11-2017 3232
08-11-2017 3235.5
07-11-2017 3259
06-11-2017 3290
03-11-2017 3265.5
02-11-2017 3272
01-11-2017 3332
Tin
Date(Fix.) ($/MT)
Average 19583.00
21-11-2017 19550
20-11-2017 19555
17-11-2017 19560
16-11-2017 19750
15-11-2017 19590
14-11-2017 19550
13-11-2017 19385
10-11-2017 19700
09-11-2017 19475
08-11-2017 19550
07-11-2017 19580
06-11-2017 19600
03-11-2017 19700
02-11-2017 19500
01-11-2017 19700
Nickel
Date(Fix.) ($/MT)
Average 12191.33
21-11-2017 11605
20-11-2017 11510
17-11-2017 11470
16-11-2017 11570
15-11-2017 11580
14-11-2017 12255
13-11-2017 12280
10-11-2017 12285
09-11-2017 12230
08-11-2017 12565
07-11-2017 12805
06-11-2017 12830
03-11-2017 12560
02-11-2017 12630
01-11-2017 12695
Cobalt
Date(Fix.) ($/MT)
Average 61133.33
21-11-2017 61000
20-11-2017 61500
17-11-2017 61500
16-11-2017 61250
15-11-2017 61250
14-11-2017 60250
13-11-2017 61000
10-11-2017 61000
09-11-2017 61500
08-11-2017 61000
07-11-2017 61000
06-11-2017 61000
03-11-2017 61500
02-11-2017 61750
01-11-2017 60500