Monthly Metal Review

Overview

Gold and the U.S. dollar soared whilst sterling, copper and other metals and oil struggled after UK voters approved leaving the European Union. The vote shocked global markets and unleashed political uncertainty. Moodys said the vote hurt the UK’s medi-um-term growth outlook and lowered its long-term issuer and debt ratings to negative from stable. Zinc and tin initially fell to three-week lows, but losses were less drastic than in other commodities. Analysts said that since China is the biggest metals customer, Brexit could have a less-than-massive impact on supply-demand fundamentals.
Britain’s vote to leave the European Union should have a minimal direct impact on Latin Ameri-can countries, given the limited commercial ties be-tween the two regions analysts said on Monday follow-ing the results of last Thursday’s vote.
National Australia Bank (NAB) forecast loss of another 50,000 jobs in Australia’s already-slimmed mining sector. The bank said mining investment is likely to plunge 70 percent in the next three years. Most mining-job losses would be in Western Australia and add to some 46,000 lost between 2012-13 and 2014-15. Mining investment accounted for two-thirds of Aus-tralia’s economic growth between 2011 and 2012, when it was about 8 percent of GDP, compared to 4.25 per-cent now and likely fall to 1.25 percent.
A weak U.S. jobs report and fears of Brexit quashed what was a possible June Federal Reserve interest-rate rise and dimmed prospects for a July hike. The U.S. economy added just 38,000 seasonally adjusted jobs in May. Job gains averaged 116,000 monthly during March, April and May, compared with an average of 229,000 last year. Actual Brexit shock could eliminate any 2016 rate hikes.
Rebounding raw-material prices relieved pres-sure on miners as the Rio Tinto group planned to buy back billions in debt, its second debt repurchase in two months. Priority will be on repurchasing 2018-due notes, Rio said. Then it will consider offers from bond holders with US$5.2 billion in bonds due 2020-2022. It bought $1.5 billion of its notes in April and May.
LME owner Hong Kong Exchanges and Clearing said it plans a metals-trading platform on China’s mainland. Pending regulatory approval, a new free trade zone near Hong Kong, Qianhai, is to host the platform, with warehouses and IT systems, before expanding into other physical commodities. HKEx bought the LME in 2012 at the top of the commodi-ties boom for US$2.2 billion.
The former banker and World Bank economist Pedro Pablo Kuczynski won Peru’s peridency. He defeated the daughter of former President Alberto Fujimori. 

Daily Prices

June 2016

Copper
Date(Fix.) ($/MT)
Average 4630.64
30-06-2016 4827
29-06-2016 4780
28-06-2016 4777.5
27-06-2016 4692
24-06-2016 4663
23-06-2016 4747
22-06-2016 4687.5
21-06-2016 4587
20-06-2016 4585
17-06-2016 4521.5
16-06-2016 4524.5
15-06-2016 4632
14-06-2016 4510.5
13-06-2016 4515
10-06-2016 4504
09-06-2016 4546
08-06-2016 4590.5
07-06-2016 4589
06-06-2016 4706
03-06-2016 4688
02-06-2016 4600
01-06-2016 4601
Silver
Date(Fix.) ($/OZ)
Average 17.18
30-06-2016 18.36
29-06-2016 18.21
28-06-2016 17.57
27-06-2016 17.7
24-06-2016 18.04
23-06-2016 17.29
22-06-2016 17.2
21-06-2016 17.36
20-06-2016 17.34
17-06-2016 17.37
16-06-2016 17.71
15-06-2016 17.41
14-06-2016 17.25
13-06-2016 17.32
10-06-2016 17.32
09-06-2016 17.05
08-06-2016 16.75
07-06-2016 16.31
06-06-2016 16.4
03-06-2016 16.1
02-06-2016 15.98
01-06-2016 15.95
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1273.58
30-06-2016 1317
29-06-2016 1317.75
28-06-2016 1312
27-06-2016 1324.6
24-06-2016 1313.85
23-06-2016 1265.75
22-06-2016 1265
21-06-2016 1280.8
20-06-2016 1283.25
17-06-2016 1284.5
16-06-2016 1307
15-06-2016 1282
14-06-2016 1279.4
13-06-2016 1284.1
10-06-2016 1266.6
09-06-2016 1258.35
08-06-2016 1252.4
07-06-2016 1241.1
06-06-2016 1240.55
03-06-2016 1211
02-06-2016 1215.5
01-06-2016 1216.25
Date(Fix.) ($/OZ)
Average 1274.99
30-06-2016 1318.875
29-06-2016 1319.625
28-06-2016 1310.85
27-06-2016 1324.575
24-06-2016 1314.675
23-06-2016 1263.95
22-06-2016 1264.925
21-06-2016 1276.7
20-06-2016 1282.525
17-06-2016 1287.6
16-06-2016 1308.875
15-06-2016 1282.65
14-06-2016 1283.275
13-06-2016 1282.45
10-06-2016 1271.05
09-06-2016 1261.125
08-06-2016 1257.7
07-06-2016 1241.05
06-06-2016 1242.275
03-06-2016 1225.75
02-06-2016 1213.95
01-06-2016 1215.375
Date(Fix.) ($/OZ)
Average 1276.40
30-06-2016 1320.75
29-06-2016 1321.5
28-06-2016 1309.7
27-06-2016 1324.55
24-06-2016 1315.5
23-06-2016 1262.15
22-06-2016 1264.85
21-06-2016 1272.6
20-06-2016 1281.8
17-06-2016 1290.7
16-06-2016 1310.75
15-06-2016 1283.3
14-06-2016 1287.15
13-06-2016 1280.8
10-06-2016 1275.5
09-06-2016 1263.9
08-06-2016 1263
07-06-2016 1241
06-06-2016 1244
03-06-2016 1240.5
02-06-2016 1212.4
01-06-2016 1214.5
Lead
Date(Fix.) ($/MT)
Average 1713.91
30-06-2016 1780
29-06-2016 1734
28-06-2016 1713.5
27-06-2016 1698
24-06-2016 1693.5
23-06-2016 1720
22-06-2016 1712
21-06-2016 1697.5
20-06-2016 1702
17-06-2016 1707
16-06-2016 1682.5
15-06-2016 1702
14-06-2016 1685.5
13-06-2016 1698.5
10-06-2016 1727
09-06-2016 1740.5
08-06-2016 1733
07-06-2016 1727
06-06-2016 1727.5
03-06-2016 1724
02-06-2016 1727
01-06-2016 1674
Zinc
Date(Fix.) ($/MT)
Average 2023.00
30-06-2016 2102.5
29-06-2016 2059
28-06-2016 2047
27-06-2016 2001
24-06-2016 1998
23-06-2016 2034
22-06-2016 2052
21-06-2016 1993
20-06-2016 1989.5
17-06-2016 1981
16-06-2016 1998
15-06-2016 2043
14-06-2016 2019.5
13-06-2016 2061
10-06-2016 2076
09-06-2016 2067.5
08-06-2016 2049
07-06-2016 2024
06-06-2016 2016
03-06-2016 1994.5
02-06-2016 1994
01-06-2016 1906.5
Tin
Date(Fix.) ($/MT)
Average 16985.23
30-06-2016 17055
29-06-2016 17050
28-06-2016 17070
27-06-2016 17005
24-06-2016 17060
23-06-2016 17170
22-06-2016 17150
21-06-2016 17035
20-06-2016 17005
17-06-2016 17265
16-06-2016 17145
15-06-2016 17250
14-06-2016 17150
13-06-2016 17085
10-06-2016 17225
09-06-2016 17300
08-06-2016 17150
07-06-2016 16975
06-06-2016 16850
03-06-2016 16545
02-06-2016 16230
01-06-2016 15905
Nickel
Date(Fix.) ($/MT)
Average 8915.45
30-06-2016 9415
29-06-2016 9280
28-06-2016 9135
27-06-2016 8960
24-06-2016 8900
23-06-2016 9180
22-06-2016 9230
21-06-2016 9180
20-06-2016 9210
17-06-2016 9050
16-06-2016 8785
15-06-2016 9070
14-06-2016 8805
13-06-2016 8825
10-06-2016 8950
09-06-2016 8950
08-06-2016 8825
07-06-2016 8565
06-06-2016 8625
03-06-2016 8510
02-06-2016 8365
01-06-2016 8325
Cobalt
Date(Fix.) ($/MT)
Average 23925.91
30-06-2016 23800
29-06-2016 23900
28-06-2016 23705
27-06-2016 23800
24-06-2016 23710
23-06-2016 23900
22-06-2016 23750
21-06-2016 24000
20-06-2016 23750
17-06-2016 23850
16-06-2016 23805
15-06-2016 24000
14-06-2016 24000
13-06-2016 24000
10-06-2016 24250
09-06-2016 24250
08-06-2016 24250
07-06-2016 23900
06-06-2016 24000
03-06-2016 23750
02-06-2016 24000
01-06-2016 24000