Monthly Metal Review

Overview

International Monetary Fund Managing Direc-tor Christine Lagarde said there could be an extended period of low commodity prices. China is emphasis-ing consumer spending over commodity-intensive capital projects. Lagarde said the change is necessary, but bad for people making copper and other metals.
The IMF warned against central-bank interest-rate hikes, saying the world risks another crash unless they support growth with low interest rates. It fore-cast the world economy growing in 2015 at the slow-est rate since the global financial crisis. But said slowdown in China and emerging economies some-times obscures strengthening recovery in rich coun-tries. It said this will be the fifth year in which emerg-ing-economies average growth declined, whilst ad-vanced economies should post their best records since 2010.
China’s third-quarter economy grew 6.9 per-cent, the weakest since 2009 and down from 7 per-cent in the previous quarter. It was below the gov-ernment’s 7-percent target. Canada’s Liberal Party ousted the unpopular but mining-friendly ruling Con-servative party in national elections. Prime Minister Designate Justin Trudeau said he will revive Canada’s sagging economy, raise taxes on high-income Canadi-ans and cut middle-class taxes. He rejects austerity and supports ambitious public-infrastructure spend-ing.
A forecast El Nino weather pattern could hurt
some metals whilst boosting nickel and tin produc-tion. Barrick blamed El-Nino for draught-lowered reservoirs that shut production at the Porgera gold-silver mine in Papua New Guinea. Freeport-McMoRan cited El Nino in cutting its 2015 forecast for Indonesia copper-concentrate sales since milling needs water. El Nino brings warmer west-Pacific-Ocean temperatures, prompting South America rains and sparse rain in Australia and Southeast Asia. A shorter monsoon in Indonesia, Philippines and Malaysia would help tin and nickel miners, but Chile remains vulnerable after this year’s rains.
Asia-Pacific mining and metal-processing in-dustries reportedly welcomed October’s completed negotiations for the free-trade Trans-Pacific Part-nership agreement. The U.S.-led TPP is intended to lower tariffs and other trade barriers between a doz-en nations, not including China. If approved locally it would cover the U.S., Canada, Australia, Peru, Chile, Japan, Mexico, New Zealand, Malaysia, Sin-gapore, Brunei and Vietnam. It faces a 2016 up-or-down vote in the U.S. Congress.
The Bank of England asked the UK's big banks to reveal their exposure to commodity traders and falling raw-materials prices amidst concerns over impacts from the oil and metals slump. The move mirrors similar inquiries it made about expo-sure to China and Greece.

Daily Prices

October 2015

Copper
Date(Fix.) ($/MT)
Average 5222.61
30-10-2015 5135.5
29-10-2015 5161
28-10-2015 5179
27-10-2015 5219.5
26-10-2015 5233
23-10-2015 5295
22-10-2015 5274
21-10-2015 5185.5
20-10-2015 5189
19-10-2015 5240
16-10-2015 5270
15-10-2015 5344
14-10-2015 5278
13-10-2015 5260.5
12-10-2015 5335
09-10-2015 5319
08-10-2015 5160
07-10-2015 5241
06-10-2015 5175
05-10-2015 5144.5
02-10-2015 5081
01-10-2015 5178
Silver
Date(Fix.) ($/OZ)
Average 15.71
30-10-2015 15.63
29-10-2015 15.82
28-10-2015 16.03
27-10-2015 15.8
26-10-2015 16.1
23-10-2015 15.98
22-10-2015 15.77
21-10-2015 15.75
20-10-2015 15.86
19-10-2015 15.86
16-10-2015 16.04
15-10-2015 16.18
14-10-2015 15.84
13-10-2015 15.61
12-10-2015 15.96
09-10-2015 15.99
08-10-2015 15.61
07-10-2015 15.82
06-10-2015 15.67
05-10-2015 15.25
02-10-2015 14.43
01-10-2015 14.55
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1157.12
30-10-2015 1147.75
29-10-2015 1159
28-10-2015 1171.5
27-10-2015 1165.75
26-10-2015 1168.5
23-10-2015 1171.55
22-10-2015 1166.45
21-10-2015 1174.4
20-10-2015 1173.7
19-10-2015 1171.65
16-10-2015 1176.35
15-10-2015 1183.35
14-10-2015 1173.7
13-10-2015 1154.4
12-10-2015 1164.2
09-10-2015 1151.5
08-10-2015 1143.3
07-10-2015 1147.9
06-10-2015 1136.9
05-10-2015 1134.35
02-10-2015 1106.3
01-10-2015 1114.2
Date(Fix.) ($/OZ)
Average 1158.18
30-10-2015 1145.05
29-10-2015 1153.8
28-10-2015 1175.55
27-10-2015 1165.725
26-10-2015 1167.45
23-10-2015 1166.4
22-10-2015 1166.725
21-10-2015 1170.75
20-10-2015 1175.725
19-10-2015 1173.525
16-10-2015 1178.6
15-10-2015 1183.8
14-10-2015 1173.8
13-10-2015 1159.8
12-10-2015 1164.55
09-10-2015 1151.525
08-10-2015 1141.65
07-10-2015 1146.25
06-10-2015 1142.2
05-10-2015 1137.05
02-10-2015 1123.525
01-10-2015 1116.6
Date(Fix.) ($/OZ)
Average 1159.25
30-10-2015 1142.35
29-10-2015 1148.6
28-10-2015 1179.6
27-10-2015 1165.7
26-10-2015 1166.4
23-10-2015 1161.25
22-10-2015 1167
21-10-2015 1167.1
20-10-2015 1177.75
19-10-2015 1175.4
16-10-2015 1180.85
15-10-2015 1184.25
14-10-2015 1173.9
13-10-2015 1165.2
12-10-2015 1164.9
09-10-2015 1151.55
08-10-2015 1140
07-10-2015 1144.6
06-10-2015 1147.5
05-10-2015 1139.75
02-10-2015 1140.75
01-10-2015 1119
Lead
Date(Fix.) ($/MT)
Average 1724.57
30-10-2015 1681
29-10-2015 1712
28-10-2015 1719
27-10-2015 1737
26-10-2015 1742
23-10-2015 1757
22-10-2015 1735
21-10-2015 1748
20-10-2015 1763
19-10-2015 1787
16-10-2015 1793.5
15-10-2015 1816.5
14-10-2015 1776.5
13-10-2015 1767.5
12-10-2015 1792
09-10-2015 1771.5
08-10-2015 1667.5
07-10-2015 1650
06-10-2015 1619
05-10-2015 1623.5
02-10-2015 1619
01-10-2015 1663
Zinc
Date(Fix.) ($/MT)
Average 1728.05
30-10-2015 1673
29-10-2015 1696
28-10-2015 1708.5
27-10-2015 1725
26-10-2015 1724.5
23-10-2015 1750
22-10-2015 1715
21-10-2015 1725.5
20-10-2015 1747
19-10-2015 1757.5
16-10-2015 1782
15-10-2015 1805.5
14-10-2015 1794
13-10-2015 1786
12-10-2015 1835
09-10-2015 1824.5
08-10-2015 1662.5
07-10-2015 1670.5
06-10-2015 1636.5
05-10-2015 1652.5
02-10-2015 1655.5
01-10-2015 1690.5
Tin
Date(Fix.) ($/MT)
Average 15848.18
30-10-2015 15025
29-10-2015 15005
28-10-2015 15280
27-10-2015 15545
26-10-2015 15700
23-10-2015 16075
22-10-2015 15975
21-10-2015 16025
20-10-2015 15975
19-10-2015 16000
16-10-2015 16100
15-10-2015 16245
14-10-2015 15900
13-10-2015 16155
12-10-2015 16125
09-10-2015 16325
08-10-2015 16000
07-10-2015 16275
06-10-2015 15875
05-10-2015 15680
02-10-2015 15700
01-10-2015 15675
Nickel
Date(Fix.) ($/MT)
Average 10344.09
30-10-2015 10135
29-10-2015 10475
28-10-2015 10380
27-10-2015 10485
26-10-2015 10465
23-10-2015 10600
22-10-2015 10405
21-10-2015 10320
20-10-2015 10280
19-10-2015 10415
16-10-2015 10460
15-10-2015 10575
14-10-2015 10375
13-10-2015 10400
12-10-2015 10635
09-10-2015 10710
08-10-2015 10070
07-10-2015 10220
06-10-2015 9910
05-10-2015 9935
02-10-2015 9930
01-10-2015 10390
Cobalt
Date(Fix.) ($/MT)
Average 27661.59
30-10-2015 28000
29-10-2015 28000
28-10-2015 28000
27-10-2015 27400
26-10-2015 27500
23-10-2015 27500
22-10-2015 28000
21-10-2015 28000
20-10-2015 27500
19-10-2015 27500
16-10-2015 27400
15-10-2015 27500
14-10-2015 27500
13-10-2015 27500
12-10-2015 27500
09-10-2015 27500
08-10-2015 27750
07-10-2015 27750
06-10-2015 27750
05-10-2015 27750
02-10-2015 27755
01-10-2015 27500