Monthly Metal Review

Overview

Copper, nickel, zinc, lead, tin, and aluminium, six main industrial metals, had deficits in first-half 2016, according to World Bureau of Metal Statistics figures. The London Metal Exchange’s LMEX Index, which tracks their performance as a single package, rose 9.5 percent so far this year after three years of losses. Zinc has led advances with a more-than-40-percent rally whilst copper and lead lagged.
China reported 6.7-percent second-quarter eco-nomic growth helped by a government credit expan-sion. A private purchasing managers’ index published by Caixin magazine jumped to 50.6 from June’s 48.6, the highest since February 2015.
London-based research service Timetric said it anticipates Peru’s base metal production from copper, zinc and lead mines to grow to 4 million tonnes from 2015 to 2020. It said copper production was 1.4 million tonnes in 2014, whilst zinc was 1.3 million tonnes and lead was 278,000 tonnes.
In the U.S, payrolls expanded by 255,000 in July, the 70th consecutive employment-growth month. This follows June’s 292,000-job growth report and keeps alive the possibility of a 2016 Federal Reserve interest-rate rise. The second-quarter U.S. economy grew by 1.2 percent annually, as inventories fell for the first time since 2011. But a spike in consumer spending indicated underlying strength.
The Bank of England launched its largest stimu-lus package since the financial crisis on concerns the Brexit vote could subvert growth. It downgraded its UK economic-growth forecast but stopped short of predicting recession. The BoE cut its benchmark in-terest rate by 25 basis points to a record-low 0.25 percent, and expanded other stimuli. A £70-billion private sector bond-buying programme is to begin in September.
The UK’s April-to-June industrial output rose on-quarter by 2.1 percent, but slowed on-month to 0.1 percent by June. The building sector entered re-cession as second-quarter infrastructure output and house building drooped. Construction shrank by 0.7 percent following a 1.1-percent first quarter fall, whilst output declined by 1.4 percent on-year. Still, retail sales soared on-month by 5.9 percent as shoppers went on a July spending spree.
Without mentioning interest rates, the U.S. Federal Reserve’s vice chairman noted that the Fed is close to hitting its targets for U.S. employment growth and 2-percent inflation. He said this year's jobs-growth pace, although slower than in 2015, was more than enough for the labour market to continue to improve. 

Daily Prices

August 2016

Copper
Date(Fix.) ($/MT)
Average 4758.20
31-08-2016 4602.5
30-08-2016 4609
26-08-2016 4622
25-08-2016 4639.5
24-08-2016 4658.5
23-08-2016 4719
22-08-2016 4732
19-08-2016 4774
18-08-2016 4802.5
17-08-2016 4755.5
16-08-2016 4798
15-08-2016 4746
12-08-2016 4746
11-08-2016 4810
10-08-2016 4874.5
09-08-2016 4779
08-08-2016 4796
05-08-2016 4792.5
04-08-2016 4787
03-08-2016 4844.5
02-08-2016 4885.5
01-08-2016 4907
Silver
Date(Fix.) ($/OZ)
Average 19.64
31-08-2016 18.74
30-08-2016 18.78
26-08-2016 18.67
25-08-2016 18.5
24-08-2016 18.84
23-08-2016 18.98
22-08-2016 18.91
19-08-2016 19.415
18-08-2016 19.78
17-08-2016 19.57
16-08-2016 20.04
15-08-2016 19.9
12-08-2016 19.87
11-08-2016 20.21
10-08-2016 20.34
09-08-2016 19.7
08-08-2016 19.66
05-08-2016 20.22
04-08-2016 20.16
03-08-2016 20.59
02-08-2016 20.71
01-08-2016 20.51
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1340.86
31-08-2016 1314.45
30-08-2016 1318.85
26-08-2016 1324.9
25-08-2016 1324.5
24-08-2016 1337.3
23-08-2016 1338.5
22-08-2016 1334.3
19-08-2016 1346.85
18-08-2016 1347.1
17-08-2016 1342.75
16-08-2016 1349.1
15-08-2016 1339.2
12-08-2016 1336.7
11-08-2016 1344.55
10-08-2016 1351.85
09-08-2016 1332.9
08-08-2016 1330
05-08-2016 1362.6
04-08-2016 1351.15
03-08-2016 1364.4
02-08-2016 1358.15
01-08-2016 1348.85
Date(Fix.) ($/OZ)
Average 1341.04
31-08-2016 1311.85
30-08-2016 1318.5
26-08-2016 1321.825
25-08-2016 1322.9
24-08-2016 1332.275
23-08-2016 1340.25
22-08-2016 1335.1
19-08-2016 1346.625
18-08-2016 1348.575
17-08-2016 1343.05
16-08-2016 1346.55
15-08-2016 1339.3
12-08-2016 1345.85
11-08-2016 1349.775
10-08-2016 1349.775
09-08-2016 1336.95
08-08-2016 1333.4
05-08-2016 1351.5
04-08-2016 1356.95
03-08-2016 1361.65
02-08-2016 1360.95
01-08-2016 1349.25
Date(Fix.) ($/OZ)
Average 1341.22
31-08-2016 1309.25
30-08-2016 1318.15
26-08-2016 1318.75
25-08-2016 1321.3
24-08-2016 1327.25
23-08-2016 1342
22-08-2016 1335.9
19-08-2016 1346.4
18-08-2016 1350.05
17-08-2016 1343.35
16-08-2016 1344
15-08-2016 1339.4
12-08-2016 1355
11-08-2016 1355
10-08-2016 1347.7
09-08-2016 1341
08-08-2016 1336.8
05-08-2016 1340.4
04-08-2016 1362.75
03-08-2016 1358.9
02-08-2016 1363.75
01-08-2016 1349.65
Lead
Date(Fix.) ($/MT)
Average 1838.89
31-08-2016 1875
30-08-2016 1880
26-08-2016 1878
25-08-2016 1840
24-08-2016 1850
23-08-2016 1850
22-08-2016 1847.5
19-08-2016 1884
18-08-2016 1893
17-08-2016 1876
16-08-2016 1864
15-08-2016 1828
12-08-2016 1811
11-08-2016 1817
10-08-2016 1839
09-08-2016 1791
08-08-2016 1793
05-08-2016 1795
04-08-2016 1788
03-08-2016 1803
02-08-2016 1818
01-08-2016 1835
Zinc
Date(Fix.) ($/MT)
Average 2282.77
31-08-2016 2327.5
30-08-2016 2318
26-08-2016 2325
25-08-2016 2286
24-08-2016 2312.5
23-08-2016 2306
22-08-2016 2286
19-08-2016 2287
18-08-2016 2302
17-08-2016 2260.5
16-08-2016 2264
15-08-2016 2219.5
12-08-2016 2238
11-08-2016 2278.5
10-08-2016 2310
09-08-2016 2271
08-08-2016 2280
05-08-2016 2271
04-08-2016 2258
03-08-2016 2266
02-08-2016 2281
01-08-2016 2273.5
Tin
Date(Fix.) ($/MT)
Average 18413.41
31-08-2016 18880
30-08-2016 18825
26-08-2016 18920
25-08-2016 18900
24-08-2016 18940
23-08-2016 18575
22-08-2016 18545
19-08-2016 18475
18-08-2016 18425
17-08-2016 18385
16-08-2016 18245
15-08-2016 17960
12-08-2016 18200
11-08-2016 18325
10-08-2016 18650
09-08-2016 18325
08-08-2016 18155
05-08-2016 18410
04-08-2016 17935
03-08-2016 18040
02-08-2016 17985
01-08-2016 17995
Nickel
Date(Fix.) ($/MT)
Average 10354.77
31-08-2016 9725
30-08-2016 9720
26-08-2016 9795
25-08-2016 9795
24-08-2016 10220
23-08-2016 10235
22-08-2016 10125
19-08-2016 10250
18-08-2016 10325
17-08-2016 10155
16-08-2016 10330
15-08-2016 10405
12-08-2016 10445
11-08-2016 10690
10-08-2016 10900
09-08-2016 10730
08-08-2016 10790
05-08-2016 10580
04-08-2016 10440
03-08-2016 10650
02-08-2016 10795
01-08-2016 10705
Cobalt
Date(Fix.) ($/MT)
Average 26507.27
31-08-2016 26500
30-08-2016 26250
26-08-2016 26250
25-08-2016 26250
24-08-2016 26250
23-08-2016 26500
22-08-2016 26750
19-08-2016 26500
18-08-2016 26750
17-08-2016 26750
16-08-2016 26750
15-08-2016 26500
12-08-2016 26500
11-08-2016 26260
10-08-2016 26750
09-08-2016 26400
08-08-2016 26750
05-08-2016 26500
04-08-2016 26250
03-08-2016 26500
02-08-2016 26750
01-08-2016 26500