Monthly Metal Review

Overview

Iran’s nuclear deal with Western powers and staged removal of many economic sanctions could open opportunities for outside carmakers and aircraft manufacturers. Peugeot quickly outlined plans for new Iranian production. Analysts said U.S. businesses could be late to arrive, owing to Washington’s more rigid sanctions-removal structure. Tehran agreed to curb its nuclear program for eased sanctions, although the deal faces political hurdles.
Greek banks reopened as European officials worked on a bailout for debt-plagued Athens. Cus-tomers could withdraw no more than €420 weekly. Greece reluctantly accepted a deal requiring higher taxes and belt tightening.
China’s booming stock market tumbled in early July, sparking a government scramble. Markets else-where feared ripple effects from China and the Greek-debt drama. Commodities markets reflected concerns as metals suffered. Chinese equities bounced back as Beijing’s intervention encouraged investors. Other plat-forms mostly followed suit but metals lagged.
Federal Reserve chief Janet Yellen said U.S. re-covery is firm enough to allow short-term interest rates to rise incrementally later this year. In London, Bank of England Governor Mark Carney said a rate-raising decision will likely come around the turn of this year. He said the bank will raise slowly, but there would be what he called shocks and adjustments.
The U.S. added a robust 223,000 jobs in June. The jobless rate fell to a seven-year low of 5.3 percent, down on-month from 5.5. But wages were flat.
Citing a mediocre U.S. first quarter, the Interna-tional Monetary Fund lowered its 2015 global eco-nomic-growth forecast, cutting the 3.5-percent expan-sion predicted in April to 3.3 percent. The 2016 fore-cast of 3.8-percent growth was unchanged. China and Eurozone projections were kept but both were called potential risks. The IMF saw the U.S. growing by 2.5 percent this year, against April’s 3.1 percent. UK pre-dicted 2015 growth was trimmed from 2.7 to 2.4 per-cent.
The U.S. added a robust 223,000 jobs in June. The jobless rate fell to a seven-year low of 5.3 percent, down on-month from 5.5. But wages were flat.
The expected August sale of a share in Barrick Gold’s Zaldivar copper mine in Chile could bring more than US$1.5 billion from a winning bidder, analysts said.
Western Australia’s government said reforms have cut miners’ exploration-application assessment wait times from an average 45 to 28 days. The average days an application had to be delayed while applicants supplied further information dropped from 21 days in 2013 to nine days in 2015.
Anglo American said it will cut 6,000 posts worldwide in reaction to slumping commodity prices. Rdundant positions are to be from roles not directly related to production. Anglo has some 150,000 work-ers.

Daily Prices

July 2015

Copper
Date(Fix.) ($/MT)
Average 5456.91
31-07-2015 5220
30-07-2015 5241
29-07-2015 5302
28-07-2015 5239.5
27-07-2015 5190
24-07-2015 5224.5
23-07-2015 5340
22-07-2015 5350.5
21-07-2015 5475.5
20-07-2015 5425
17-07-2015 5465
16-07-2015 5530
15-07-2015 5597
14-07-2015 5502.5
13-07-2015 5605.5
10-07-2015 5561.5
09-07-2015 5576
08-07-2015 5375
07-07-2015 5440.5
06-07-2015 5570
03-07-2015 5761.5
02-07-2015 5761
01-07-2015 5755.5
Silver
Date(Fix.) ($/OZ)
Average 15.07
31-07-2015 14.56
30-07-2015 14.64
29-07-2015 14.61
28-07-2015 14.54
27-07-2015 14.69
24-07-2015 14.49
23-07-2015 14.88
22-07-2015 14.78
21-07-2015 14.75
20-07-2015 14.84
17-07-2015 15.01
16-07-2015 14.93
15-07-2015 15.31
14-07-2015 15.28
13-07-2015 15.45
10-07-2015 15.45
09-07-2015 15.38
08-07-2015 14.99
07-07-2015 15.61
06-07-2015 15.59
03-07-2015 15.64
02-07-2015 15.61
01-07-2015 15.63
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1131.58
31-07-2015 1080.05
30-07-2015 1085.65
29-07-2015 1096.75
28-07-2015 1095.6
27-07-2015 1098.6
24-07-2015 1083.75
23-07-2015 1101.65
22-07-2015 1096.8
21-07-2015 1108
20-07-2015 1115
17-07-2015 1143
16-07-2015 1145.1
15-07-2015 1154.75
14-07-2015 1153.2
13-07-2015 1154.95
10-07-2015 1162.4
09-07-2015 1162.1
08-07-2015 1154.25
07-07-2015 1166.25
06-07-2015 1164.25
03-07-2015 1168.25
02-07-2015 1164.3
01-07-2015 1171.7
Date(Fix.) ($/OZ)
Average 1130.81
31-07-2015 1089.225
30-07-2015 1086.575
29-07-2015 1093.5
28-07-2015 1095.9
27-07-2015 1099.3
24-07-2015 1082.275
23-07-2015 1099.525
22-07-2015 1092.7
21-07-2015 1106.8
20-07-2015 1109.8
17-07-2015 1137.9
16-07-2015 1144.75
15-07-2015 1151.075
14-07-2015 1155.3
13-07-2015 1154.475
10-07-2015 1160.85
09-07-2015 1163.175
08-07-2015 1156.375
07-07-2015 1161.25
06-07-2015 1165.125
03-07-2015 1168.1
02-07-2015 1164.775
01-07-2015 1169.85
Date(Fix.) ($/OZ)
Average 1130.04
31-07-2015 1098.4
30-07-2015 1087.5
29-07-2015 1090.25
28-07-2015 1096.2
27-07-2015 1100
24-07-2015 1080.8
23-07-2015 1097.4
22-07-2015 1088.6
21-07-2015 1105.6
20-07-2015 1104.6
17-07-2015 1132.8
16-07-2015 1144.4
15-07-2015 1147.4
14-07-2015 1157.4
13-07-2015 1154
10-07-2015 1159.3
09-07-2015 1164.25
08-07-2015 1158.5
07-07-2015 1156.25
06-07-2015 1166
03-07-2015 1167.95
02-07-2015 1165.25
01-07-2015 1168
Lead
Date(Fix.) ($/MT)
Average 1762.35
31-07-2015 1688
30-07-2015 1695.5
29-07-2015 1712.5
28-07-2015 1703.5
27-07-2015 1690.5
24-07-2015 1706.5
23-07-2015 1753
22-07-2015 1750
21-07-2015 1796
20-07-2015 1801
17-07-2015 1824.5
16-07-2015 1824.5
15-07-2015 1857
14-07-2015 1809
13-07-2015 1819.5
10-07-2015 1815
09-07-2015 1804
08-07-2015 1734
07-07-2015 1743
06-07-2015 1732
03-07-2015 1756
02-07-2015 1768
01-07-2015 1751
Zinc
Date(Fix.) ($/MT)
Average 2002.07
31-07-2015 1920
30-07-2015 1947
29-07-2015 1985
28-07-2015 1957
27-07-2015 1933
24-07-2015 1958.5
23-07-2015 2003
22-07-2015 1997
21-07-2015 2044.5
20-07-2015 2027.5
17-07-2015 2053
16-07-2015 2051
15-07-2015 2095.5
14-07-2015 2015
13-07-2015 2031.5
10-07-2015 2002
09-07-2015 2009
08-07-2015 1955
07-07-2015 2001.5
06-07-2015 1992
03-07-2015 2013
02-07-2015 2031
01-07-2015 2025.5
Tin
Date(Fix.) ($/MT)
Average 14961.96
31-07-2015 16360
30-07-2015 16195
29-07-2015 16275
28-07-2015 16275
27-07-2015 15400
24-07-2015 14900
23-07-2015 14905
22-07-2015 14850
21-07-2015 15455
20-07-2015 15485
17-07-2015 15675
16-07-2015 14805
15-07-2015 14750
14-07-2015 14575
13-07-2015 14205
10-07-2015 14005
09-07-2015 14355
08-07-2015 14100
07-07-2015 14225
06-07-2015 14350
03-07-2015 14175
02-07-2015 14545
01-07-2015 14260
Nickel
Date(Fix.) ($/MT)
Average 11385.87
31-07-2015 10925
30-07-2015 10925
29-07-2015 11110
28-07-2015 11180
27-07-2015 10925
24-07-2015 11175
23-07-2015 11240
22-07-2015 11545
21-07-2015 11775
20-07-2015 11470
17-07-2015 11425
16-07-2015 11420
15-07-2015 11735
14-07-2015 11385
13-07-2015 11455
10-07-2015 11275
09-07-2015 11290
08-07-2015 10900
07-07-2015 11145
06-07-2015 11560
03-07-2015 12050
02-07-2015 12060
01-07-2015 11905
Cobalt
Date(Fix.) ($/MT)
Average 31506.74
31-07-2015 30750
30-07-2015 30750
29-07-2015 31000
28-07-2015 30750
27-07-2015 30500
24-07-2015 31000
23-07-2015 31000
22-07-2015 31000
21-07-2015 31000
20-07-2015 31250
17-07-2015 30750
16-07-2015 31300
15-07-2015 31300
14-07-2015 31500
13-07-2015 31500
10-07-2015 32000
09-07-2015 32000
08-07-2015 32000
07-07-2015 32100
06-07-2015 32500
03-07-2015 32750
02-07-2015 32755
01-07-2015 33200