Monthly Metal Review

Overview

The EU and Japan concluded negotiations on a free-trade deal to create the world’s largest open economic area, rejecting the protectionist stance of U.S. President Donald Trump. Brussels will end EU import duties on Japanese autos. Japan will scrap duties on EU agricultural. The EU is the world’s biggest vehicle importer. The pact aims for a 2019 start. The U.S. economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending. GDP expanded at a 3.2-percent annual rate. It added a strong 228,000 jobs in November, whilst unemployment held at a 17-year low. But wage gains were muted. The annualized growth rate of average hourly earnings was a pedestrian 2.5 percent. The U.S. Federal Reserve hiked the benchmark interest rate and its economic-growth forecast sticking with a prediction of three 2018 raises. The Fed vote, the third in 2017, raised the lending rate by a quarter percentage point to a target of 1.25 to 1.5 percent. China's central bank followed by raising short-term interest rates. The People's Bank lifted its 7-day and 28-day reverse repurchase agreements by 5 basis points, a modest borrowing-cost rise and the first hike since March. Analysts said Beijing wants to limit capital outflow seeking stronger returns without harming economic growth. China’s environmental ministry said average air quality in 338 Chinese cities showed improvement in No-vember, but Beijing’s anti-pollution campaign could foster industrial materials shortages. Copper on the London Metal Exchange hit US$7,000 as U.S. Congressional Republicans approved a controversial U.S. tax bill that lowers corporate taxes. No Democratic legislators signed on, instead calling the debt-deepening measure a polarizing giveaway to the wealthy. President Donald Trump said he will now push infrastructure repairs, although analysts were skeptical. The Rasmussen presidential tracking poll showed that 44 percent of Likely voters approve of Trump’s job performance. But 54 percent disapprove. Conservative billionaire and former Presi-dent Sebastián Piñera won Chile's presidential runoff election, moving the top copper-producing nation back to the political right from its center-left path. A former airline magnate who talked of reversing social and economic changes, Piñera governed Chile 2010-2014. He handily beat his rival, supported by current Presi-dent Michelle Bachelet. Industrial metals came strong in late Decem-ber from a weak U.S. currency that makes dollar-denominated commodities cheaper for non-U.S. firms. Copper rose 6.3% percent to $7,157 a tonne, zinc gained 2.85 percent to $3,309, lead lost 0.4 percent to US2,495, tin gained 1.3 percent to $19,875 and nickel added 11 percent to $12,260. Australian miners were on track for their best close in nearly five years on Friday as positive com-modity market sentiment continued to buoy the mar-ket. ASX 300 Metals & Mining index was up as much as 1 per cent in early trading in Sydney, and was head-ing towards its best close since March 2013.The index, which includes iron ore mining giants BHP Billiton and Rio Tinto as well as major gold producers Newcrest and OceanaGold, has added 13 per cent so far this quarter and is up more than 20 per cent in 2017.

Daily Prices

December 2017

Copper
Date(Fix.) ($/MT)
Average 6801.16
29-12-2017 7157
28-12-2017 7216
27-12-2017 7140
22-12-2017 7019
21-12-2017 6977
20-12-2017 6925
19-12-2017 6845
18-12-2017 6844
15-12-2017 6735.5
14-12-2017 6723
13-12-2017 6685
12-12-2017 6614
11-12-2017 6547.5
08-12-2017 6538.5
07-12-2017 6530.5
06-12-2017 6539
05-12-2017 6645
04-12-2017 6807
01-12-2017 6734
Silver
Date(Fix.) ($/OZ)
Average 16.16
29-12-2017 16.87
28-12-2017 16.74
27-12-2017 16.5
22-12-2017 16.175
21-12-2017 16.145
20-12-2017 16.185
19-12-2017 16.155
18-12-2017 16.09
15-12-2017 15.985
14-12-2017 16.01
13-12-2017 15.705
12-12-2017 15.78
11-12-2017 15.835
08-12-2017 15.825
07-12-2017 15.91
06-12-2017 16.115
05-12-2017 16.285
04-12-2017 16.33
01-12-2017 16.42
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1265.67
29-12-2017 1296.5
28-12-2017 1291.6
27-12-2017 1285.4
22-12-2017 1268.05
21-12-2017 1265.85
20-12-2017 1265.95
19-12-2017 1263.1
18-12-2017 1258.65
15-12-2017 1257.25
14-12-2017 1255.6
13-12-2017 1241.6
12-12-2017 1243.4
11-12-2017 1251.4
08-12-2017 1245.85
07-12-2017 1256.8
06-12-2017 1268.55
05-12-2017 1275.9
04-12-2017 1279.1
01-12-2017 1277.25
Date(Fix.) ($/OZ)
Average 1264.57
29-12-2017 1296.5
28-12-2017 1291.3
27-12-2017 1282.4
22-12-2017 1268.05
21-12-2017 1265.2
20-12-2017 1265.25
19-12-2017 1261.725
18-12-2017 1259.625
15-12-2017 1255.925
14-12-2017 1253.3
13-12-2017 1242.125
12-12-2017 1242.15
11-12-2017 1249.275
08-12-2017 1248.25
07-12-2017 1255.9
06-12-2017 1266.125
05-12-2017 1271.1
04-12-2017 1276.275
01-12-2017 1276.375
Date(Fix.) ($/OZ)
Average 1263.47
29-12-2017 1296.5
28-12-2017 1291
27-12-2017 1279.4
22-12-2017 1268.05
21-12-2017 1264.55
20-12-2017 1264.55
19-12-2017 1260.35
18-12-2017 1260.6
15-12-2017 1254.6
14-12-2017 1251
13-12-2017 1242.65
12-12-2017 1240.9
11-12-2017 1247.15
08-12-2017 1250.65
07-12-2017 1255
06-12-2017 1263.7
05-12-2017 1266.3
04-12-2017 1273.45
01-12-2017 1275.5
Lead
Date(Fix.) ($/MT)
Average 2508.82
29-12-2017 2495
28-12-2017 2511.5
27-12-2017 2494
22-12-2017 2473
21-12-2017 2491
20-12-2017 2542.5
19-12-2017 2559
18-12-2017 2586.5
15-12-2017 2511
14-12-2017 2473
13-12-2017 2515
12-12-2017 2518
11-12-2017 2495
08-12-2017 2428
07-12-2017 2506
06-12-2017 2500
05-12-2017 2512
04-12-2017 2552
01-12-2017 2505
Zinc
Date(Fix.) ($/MT)
Average 3192.47
29-12-2017 3309
28-12-2017 3288.5
27-12-2017 3267
22-12-2017 3234
21-12-2017 3223
20-12-2017 3217.5
19-12-2017 3169.5
18-12-2017 3195.5
15-12-2017 3183
14-12-2017 3168.5
13-12-2017 3161.5
12-12-2017 3167
11-12-2017 3106.5
08-12-2017 3094
07-12-2017 3111
06-12-2017 3137
05-12-2017 3170
04-12-2017 3237
01-12-2017 3217.5
Tin
Date(Fix.) ($/MT)
Average 19440.00
29-12-2017 19875
28-12-2017 19780
27-12-2017 19680
22-12-2017 19410
21-12-2017 19450
20-12-2017 19340
19-12-2017 19330
18-12-2017 19290
15-12-2017 19125
14-12-2017 18870
13-12-2017 18875
12-12-2017 19450
11-12-2017 19475
08-12-2017 19575
07-12-2017 19550
06-12-2017 19475
05-12-2017 19570
04-12-2017 19590
01-12-2017 19650
Nickel
Date(Fix.) ($/MT)
Average 11409.21
29-12-2017 12260
28-12-2017 12095
27-12-2017 11840
22-12-2017 12050
21-12-2017 12000
20-12-2017 11915
19-12-2017 11690
18-12-2017 11530
15-12-2017 11170
14-12-2017 11140
13-12-2017 11085
12-12-2017 11070
11-12-2017 10860
08-12-2017 10990
07-12-2017 10795
06-12-2017 10830
05-12-2017 11075
04-12-2017 11330
01-12-2017 11050
Cobalt
Date(Fix.) ($/MT)
Average 72589.47
29-12-2017 75500
28-12-2017 75500
27-12-2017 75500
22-12-2017 75500
21-12-2017 75000
20-12-2017 75000
19-12-2017 74000
18-12-2017 72500
15-12-2017 72500
14-12-2017 72500
13-12-2017 72000
12-12-2017 73000
11-12-2017 74500
08-12-2017 75100
07-12-2017 70000
06-12-2017 70000
05-12-2017 66100
04-12-2017 68000
01-12-2017 67000