Monthly Metal Review

Lead and Zinc

In London, the Lead cash settlement price rose to US$ 1,355 per tonne while the Zinc cash settlement price rose to US$ 1,408 per tonne on April 30, 2009.
Zinc has benefited from SRB re-stocking and resultant high imports exploiting the positive arbitrage. Besides, Hunan Nonferrous Metals Corp. announced plans to spend $176 million over the rest of 2009 on buying metals such as zinc and lead. Lead has been supported by seasonally high replacement battery demand, which is however drawing to a close, and by tight lead concentrate supplies. According to the International Lead and Zinc Study Group (ILZSG), the global zinc market will be in a surplus of more than 260,000 tonnes in 2009, while the global lead market will be in surplus by 37,000 tonnes.
ILZSG also forecasts refined zinc demand to fall by 4.9% in 2009 and refined zinc output to fall by 4%. In Peru, operations at Iscaycruz, one of the largest lead and zinc mine in the country have been suspended. In Japan, the main zinc smelting companies have revealed plans to slash refined metal output in April-September by about 15% year-on-year.
There is also a continued threat of involuntary production cuts stemming from difficulties placing sulphuric acid, all the more as summer in the northern hemisphere is approaching. In Canada, Noranda 280,000 tonnes per year Valleyfield has already been forced to cut production by 20%.
LME Lead stocks rose to 72,325 tonnes while zinc stocks dropped to 328,950 tonnes.

Daily Prices

April 2009

Copper
Date(Fix.) ($/MT)
Average 4406.55
30-04-2009 4515
29-04-2009 4300.5
28-04-2009 4185
27-04-2009 4305.5
24-04-2009 4362
23-04-2009 4541
22-04-2009 4447
21-04-2009 4402.5
20-04-2009 4636
17-04-2009 4725
16-04-2009 4766
15-04-2009 4750
14-04-2009 4582
09-04-2009 4465
08-04-2009 4305
07-04-2009 4309
06-04-2009 4330.5
03-04-2009 4130
02-04-2009 4110.5
01-04-2009 3963.5
Silver
Date(Fix.) ($/OZ)
Average 12.51
30-04-2009 12.63
29-04-2009 12.5
28-04-2009 12.56
27-04-2009 12.98
24-04-2009 12.78
23-04-2009 12.43
22-04-2009 12.12
21-04-2009 12.14
20-04-2009 12.06
17-04-2009 11.98
16-04-2009 12.65
15-04-2009 12.935
14-04-2009 12.65
09-04-2009 12.3
08-04-2009 12.28
07-04-2009 12.17
06-04-2009 12.41
03-04-2009 12.86
02-04-2009 12.88
01-04-2009 12.98
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
30-04-2009 -
29-04-2009 -
28-04-2009 -
27-04-2009 -
24-04-2009 -
23-04-2009 -
22-04-2009 -
21-04-2009 -
20-04-2009 -
17-04-2009 -
16-04-2009 -
15-04-2009 -
14-04-2009 -
09-04-2009 -
08-04-2009 -
07-04-2009 -
06-04-2009 -
03-04-2009 -
02-04-2009 -
01-04-2009 -
Date(Fix.) ($/OZ)
Average -
30-04-2009 -
29-04-2009 -
28-04-2009 -
27-04-2009 -
24-04-2009 -
23-04-2009 -
22-04-2009 -
21-04-2009 -
20-04-2009 -
17-04-2009 -
16-04-2009 -
15-04-2009 -
14-04-2009 -
09-04-2009 -
08-04-2009 -
07-04-2009 -
06-04-2009 -
03-04-2009 -
02-04-2009 -
01-04-2009 -
Date(Fix.) ($/OZ)
Average 890.20
30-04-2009 883.25
29-04-2009 898.25
28-04-2009 891
27-04-2009 907.5
24-04-2009 907.5
23-04-2009 897.5
22-04-2009 886
21-04-2009 888.75
20-04-2009 877
17-04-2009 870.5
16-04-2009 880.5
15-04-2009 891
14-04-2009 887.5
09-04-2009 880.5
08-04-2009 880
07-04-2009 879.75
06-04-2009 870.25
03-04-2009 905
02-04-2009 897.75
01-04-2009 924.5
Lead
Date(Fix.) ($/MT)
Average 1383.08
30-04-2009 1355
29-04-2009 1318
28-04-2009 1309
27-04-2009 1375
24-04-2009 1410.5
23-04-2009 1461.5
22-04-2009 1443
21-04-2009 1438
20-04-2009 1509
17-04-2009 1525
16-04-2009 1525
15-04-2009 1502
14-04-2009 1425
09-04-2009 1352.5
08-04-2009 1302
07-04-2009 1315
06-04-2009 1312
03-04-2009 1283
02-04-2009 1259
01-04-2009 1242
Zinc
Date(Fix.) ($/MT)
Average 1378.85
30-04-2009 1408
29-04-2009 1362
28-04-2009 1318
27-04-2009 1341
24-04-2009 1383.5
23-04-2009 1422
22-04-2009 1420.5
21-04-2009 1396
20-04-2009 1473
17-04-2009 1502
16-04-2009 1501
15-04-2009 1448.5
14-04-2009 1401.5
09-04-2009 1352
08-04-2009 1310
07-04-2009 1320
06-04-2009 1341
03-04-2009 1313
02-04-2009 1303
01-04-2009 1261
Tin
Date(Fix.) ($/MT)
Average 11743.50
30-04-2009 12560
29-04-2009 12300
28-04-2009 12105
27-04-2009 12400
24-04-2009 12700
23-04-2009 12770
22-04-2009 12500
21-04-2009 11920
20-04-2009 12400
17-04-2009 12200
16-04-2009 11600
15-04-2009 11600
14-04-2009 11100
09-04-2009 11055
08-04-2009 11000
07-04-2009 10860
06-04-2009 11075
03-04-2009 11000
02-04-2009 11075
01-04-2009 10650