Monthly Metal Review

Overview

Torrential rains in Chile forced a five-day work stoppage at the largest underground copper mine, Codelco’s El Teniente. The state-owned miner said it hopes to recoup lost production of 1,500 tonnes daily by using mitigation measures at its mines.
Indonesia is to temporarily halt new mining and palm-oil operations to protect its tropical forests in the wake of international criticism of rapid rainforest loss. The ban would likely begin this year for an undeter-mined period. Noting that it will mostly impact palm-oil producers in Sumatra and Borneo, some miners said the moratorium would allow Jakarta to improve monitoring and help reduce illegal mining.
The top mining official in Mexico, the world’s largest silver producer, said he supports an industry push for tax legislation that would save millions yearly in exploration costs. The Finance Ministry opposes the proposed change since it would only allow immediate investment deductions for the mining sector. The value of Mexican mining production in 2016 was $13.5 bil-lion, down about one-quarter since 2012.
The Mexican government said it expects gold and silver output to drop this year, whilst copper pro-duction will likely be flat. Gold output could reach some 120,000 kilograms, down nearly 4 percent against production of 124,581 kilograms in 2015. Silver pro-duction is expected to fall by more than 6 percent compared to last year, reaching 5,245 tonnes. Copper output is seen unchanged at some 540,000 tonnes, compared to 540,468 tonnes last year.
China's first-quarter economy grew at an annu-al 6.7-percent rater, easing slightly from the previous quarter’s 6.8 percent. But industrial-output growth leapt to 6.8 from 5.4 percent, and March exports grew for the first time in nine months. Economists said a new-credit surge appears to be powering recovery in household spending, factory activity, retail sales, and investment. The IMF has upped its growth estimate, predicting 6.5-percent China expansion this year, up from 6.3.
The U.S. economy added 215,000 jobs in March, fewer than February’s 242,000 new openings but still healthy. The unemployment rate rose to 5 percent from an eight-year low of 4.9 percent. The jobs increase could make it easier for a cautious Fed-eral Reserve to gradually raise interest rates this year.
U.S. Federal Reserve chief Janet Yellen com-forted markets, vowing to move with extreme care before raising interest rates despite China’s slowing and lingering global deflation. She said the central bank still sees gradually paced interest-rate hikes ahead, but her comment boosted gold and strength-ened the euro.

Daily Prices

April 2016

Copper
Date(Fix.) ($/MT)
Average 4851.12
29-04-2016 5045
28-04-2016 4912.5
27-04-2016 4932
26-04-2016 4935.5
25-04-2016 5000.5
22-04-2016 5015.5
21-04-2016 5025.5
20-04-2016 4938.5
19-04-2016 4812
18-04-2016 4798
15-04-2016 4813.5
14-04-2016 4830.5
13-04-2016 4838
12-04-2016 4715.5
11-04-2016 4645
08-04-2016 4654
07-04-2016 4715
06-04-2016 4775
05-04-2016 4776
04-04-2016 4816
01-04-2016 4880
Silver
Date(Fix.) ($/OZ)
Average 16.26
29-04-2016 17.86
28-04-2016 17.35
27-04-2016 17.34
26-04-2016 16.95
25-04-2016 16.86
22-04-2016 17.19
21-04-2016 17.32
20-04-2016 16.97
19-04-2016 16.62
18-04-2016 16.2
15-04-2016 16.17
14-04-2016 16.13
13-04-2016 15.98
12-04-2016 15.96
11-04-2016 15.56
08-04-2016 15.16
07-04-2016 15.22
06-04-2016 15.07
05-04-2016 15.19
04-04-2016 14.96
01-04-2016 15.38
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1241.45
29-04-2016 1274.5
28-04-2016 1256.6
27-04-2016 1244.75
26-04-2016 1234.5
25-04-2016 1230.85
22-04-2016 1245.4
21-04-2016 1257.65
20-04-2016 1247.75
19-04-2016 1241.7
18-04-2016 1237.7
15-04-2016 1229.75
14-04-2016 1240.3
13-04-2016 1245.75
12-04-2016 1259.2
11-04-2016 1247.25
08-04-2016 1235
07-04-2016 1237.5
06-04-2016 1225.75
05-04-2016 1231.5
04-04-2016 1215
01-04-2016 1232.1
Date(Fix.) ($/OZ)
Average 1241.86
29-04-2016 1280.075
28-04-2016 1256.3
27-04-2016 1246.075
26-04-2016 1238.1
25-04-2016 1234.875
22-04-2016 1244.325
21-04-2016 1253.45
20-04-2016 1249.875
19-04-2016 1248.55
18-04-2016 1236
15-04-2016 1228.425
14-04-2016 1237.075
13-04-2016 1245.75
12-04-2016 1256.9
11-04-2016 1251
08-04-2016 1237.25
07-04-2016 1239.8
06-04-2016 1223.575
05-04-2016 1231.375
04-04-2016 1217.375
01-04-2016 1222.85
Date(Fix.) ($/OZ)
Average 1242.26
29-04-2016 1285.65
28-04-2016 1256
27-04-2016 1247.4
26-04-2016 1241.7
25-04-2016 1238.9
22-04-2016 1243.25
21-04-2016 1249.25
20-04-2016 1252
19-04-2016 1255.4
18-04-2016 1234.3
15-04-2016 1227.1
14-04-2016 1233.85
13-04-2016 1245.75
12-04-2016 1254.6
11-04-2016 1254.75
08-04-2016 1239.5
07-04-2016 1242.1
06-04-2016 1221.4
05-04-2016 1231.25
04-04-2016 1219.75
01-04-2016 1213.6
Lead
Date(Fix.) ($/MT)
Average 1728.67
29-04-2016 1795.5
28-04-2016 1735
27-04-2016 1745
26-04-2016 1733.5
25-04-2016 1773
22-04-2016 1774
21-04-2016 1793.5
20-04-2016 1773.5
19-04-2016 1728
18-04-2016 1711.5
15-04-2016 1708.5
14-04-2016 1740.5
13-04-2016 1716.5
12-04-2016 1690.5
11-04-2016 1686
08-04-2016 1683
07-04-2016 1688
06-04-2016 1683
05-04-2016 1698
04-04-2016 1726
01-04-2016 1719.5
Zinc
Date(Fix.) ($/MT)
Average 1851.52
29-04-2016 1943
28-04-2016 1879
27-04-2016 1881
26-04-2016 1871
25-04-2016 1880
22-04-2016 1905
21-04-2016 1933
20-04-2016 1918.5
19-04-2016 1902
18-04-2016 1886.5
15-04-2016 1853.5
14-04-2016 1867
13-04-2016 1848
12-04-2016 1795
11-04-2016 1742.5
08-04-2016 1744
07-04-2016 1755.5
06-04-2016 1787
05-04-2016 1801.5
04-04-2016 1847
01-04-2016 1842
Tin
Date(Fix.) ($/MT)
Average 17067.62
29-04-2016 17420
28-04-2016 17100
27-04-2016 17250
26-04-2016 17375
25-04-2016 17355
22-04-2016 17350
21-04-2016 17475
20-04-2016 17330
19-04-2016 17100
18-04-2016 17150
15-04-2016 17250
14-04-2016 17200
13-04-2016 17195
12-04-2016 16950
11-04-2016 17025
08-04-2016 16825
07-04-2016 16550
06-04-2016 16385
05-04-2016 16625
04-04-2016 16705
01-04-2016 16805
Nickel
Date(Fix.) ($/MT)
Average 8852.62
29-04-2016 9460
28-04-2016 9150
27-04-2016 9200
26-04-2016 9060
25-04-2016 9080
22-04-2016 9130
21-04-2016 9430
20-04-2016 9215
19-04-2016 9070
18-04-2016 8950
15-04-2016 8885
14-04-2016 8880
13-04-2016 8920
12-04-2016 8655
11-04-2016 8555
08-04-2016 8405
07-04-2016 8460
06-04-2016 8470
05-04-2016 8275
04-04-2016 8275
01-04-2016 8380
Cobalt
Date(Fix.) ($/MT)
Average 23110.48
29-04-2016 24000
28-04-2016 23405
27-04-2016 23400
26-04-2016 23000
25-04-2016 23500
22-04-2016 22805
21-04-2016 23500
20-04-2016 23200
19-04-2016 23000
18-04-2016 23000
15-04-2016 23000
14-04-2016 23000
13-04-2016 23500
12-04-2016 22510
11-04-2016 23000
08-04-2016 22500
07-04-2016 23250
06-04-2016 23250
05-04-2016 23000
04-04-2016 22500
01-04-2016 23000