Monthly Metal Review

Copper (March 2018)

In London, Copper prices decreased by 2.44 % to US$6685.00 a tonne with a contango of US$ 35.00 at the end of this month. Chinaís February imports of copper ore and concentrates rose by 1.4 percent on-year, despite the country celebrating a weeklong break for Chinese New Year during the month. China imported 1.45 million tonnes of copper ore and concentrates, down by 10.5 percent from 1.62 million tonnes in January, but up by 1.4 percent from 1.43 million tonnes in February 2017, Customs data showed. Imports for January-February totaled 3.07 million tonnes, up by 12.7 percent from the 2.73 million tonnes imported in the same period a year earlier. Workers at AntofagastaísLos Pelambres copper mine in Chile reached agreement on a new labour con-tract, defusing risk of a strike. The new contract includes a signing bonus of US$30,500 per worker, and an average salary increase of 3 percent. Los Pelambresrecently re-ceived environmental approval for a US$1.1 billion infra-structure upgrade plan. It produced 356,300 tons of cop-per last year. A senior government official in the copper- and cobalt-rich Democratic Republic of Congo said miners wonít get substantial concessions in talks about the DRCís new mining code. Albert Yuma, chairman of state-owned Gecamines, said there can be no renegotiation on any point once the code has been promulgated. It was signed by the President on 9th of March. The revised code re-moved a measure protecting mining-license holders from complying with changes to the fiscal and customs regime for 10 years. That means all mines face higher royalty payments and new taxes. The law introduces a 50 percent tax on so-called super profits and hikes royalty rates on metals including copper, cobalt and gold. Southern Copper won a tender to develop Peruís US$2-billion Michiquillay copper mine in a two-bidder public auction in February, agreeing to pay US$400 million and a 3-percent royalty. The Lima government says the project contains perhaps 1.159 billion tonnes in copper resources. Copper hovered around US$7,000 a tonne in late February. But some miners in Peru are critical, citing alleged top-level government corruption, increasing politi-cal instability, a slow-moving bureaucracy and significant opposition to big mining projects in local communities. LME copper stocks increased to 383 075.00 tonnes in March.

Daily Prices

April 2018

Copper
Date(Fix.) ($/MT)
Average 6796.17
18-04-2018 6936
17-04-2018 6784
16-04-2018 6811.5
13-04-2018 6830
12-04-2018 6756
11-04-2018 6930.5
10-04-2018 6888
09-04-2018 6767
06-04-2018 6703
05-04-2018 6767
04-04-2018 6625
03-04-2018 6756
Silver
Date(Fix.) ($/OZ)
Average 16.52
18-04-2018 16.945
17-04-2018 16.625
16-04-2018 16.6
13-04-2018 16.505
12-04-2018 16.655
11-04-2018 16.565
10-04-2018 16.49
09-04-2018 16.34
06-04-2018 16.275
05-04-2018 16.305
04-04-2018 16.46
03-04-2018 16.52
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1338.55
18-04-2018 1346.55
17-04-2018 1342.95
16-04-2018 1344.4
13-04-2018 1340.75
12-04-2018 1345.9
11-04-2018 1345.2
10-04-2018 1335.95
09-04-2018 1328.5
06-04-2018 1325.6
05-04-2018 1327.05
04-04-2018 1343.15
03-04-2018 1336.6
Date(Fix.) ($/OZ)
Average 1339.24
18-04-2018 1349
17-04-2018 1342.525
16-04-2018 1346.875
13-04-2018 1342.225
12-04-2018 1343.625
11-04-2018 1347.975
10-04-2018 1337.45
09-04-2018 1330.225
06-04-2018 1328.4
05-04-2018 1327.375
04-04-2018 1340.225
03-04-2018 1335.025
Date(Fix.) ($/OZ)
Average 1339.94
18-04-2018 1351.45
17-04-2018 1342.1
16-04-2018 1349.35
13-04-2018 1343.7
12-04-2018 1341.35
11-04-2018 1350.75
10-04-2018 1338.95
09-04-2018 1331.95
06-04-2018 1331.2
05-04-2018 1327.7
04-04-2018 1337.3
03-04-2018 1333.45
Lead
Date(Fix.) ($/MT)
Average 2369.29
18-04-2018 2378
17-04-2018 2342
16-04-2018 2341.5
13-04-2018 2329
12-04-2018 2333
11-04-2018 2388
10-04-2018 2401
09-04-2018 2397
06-04-2018 2358.5
05-04-2018 2383.5
04-04-2018 2380
03-04-2018 2400
Zinc
Date(Fix.) ($/MT)
Average 3194.67
18-04-2018 3186.5
17-04-2018 3115
16-04-2018 3116
13-04-2018 3121
12-04-2018 3115
11-04-2018 3236.5
10-04-2018 3240
09-04-2018 3216.5
06-04-2018 3222
05-04-2018 3234
04-04-2018 3249
03-04-2018 3284.5
Tin
Date(Fix.) ($/MT)
Average 21230.42
18-04-2018 21725
17-04-2018 21725
16-04-2018 21075
13-04-2018 21190
12-04-2018 21000
11-04-2018 21175
10-04-2018 21375
09-04-2018 21100
06-04-2018 21050
05-04-2018 21075
04-04-2018 20860
03-04-2018 21415
Nickel
Date(Fix.) ($/MT)
Average 13785.42
18-04-2018 15105
17-04-2018 15105
16-04-2018 14150
13-04-2018 14005
12-04-2018 13585
11-04-2018 13740
10-04-2018 13700
09-04-2018 13240
06-04-2018 12890
05-04-2018 13285
04-04-2018 13060
03-04-2018 13560
Cobalt
Date(Fix.) ($/MT)
Average 91375.00
18-04-2018 91500
17-04-2018 91500
16-04-2018 91500
13-04-2018 92250
12-04-2018 91500
11-04-2018 91500
10-04-2018 91500
09-04-2018 91500
06-04-2018 91500
05-04-2018 91000
04-04-2018 88000
03-04-2018 93250