Monthly Metal Review

Copper

In London, Copper prices increased by 0.4 % to US$6783.00 a tonne with a contango of US$ 37.50 at the end of this month. Chile’s new conservative government ordered state-owned copper producer Codelco to create an auster-ity plan. The demand is part of the government’s austeri-ty push for ministries, agencies and state-owned compa-nies. Officials said the government will continue capitaliz-ing Codelco. Chile-focused Antofagasta said first-quarter copper production fell by 10.5 percent on-year to 153,800 tonnes, mainly on lower quality ore. But it kept full-year output guidance unchanged. The company said it ex-pected to begin the year with poorer grades, but would improve output as the year progressed. Full-year produc-tion guidance remains at 705,000-740,000 tonnes. Freeport-McMoRan said it would be impossible to keep mining its giant Grasberg copper-gold mine in Indo-nesia if it adopted new environmental standards. The government has asked Freeport to reduce the volume of tailings disposed of in nearby rivers from 50 to 5 percent. The rest are disposed of on land. In an early-April sign of tightening copper-mine supply, China's top copper smelters lowered floor treat-ment and refining charges (TC/RCs) for copper concen-trate by 10.3 percent for the second quarter. Meanwhile, Sumitomo Metal Mining, Japan's second-largest copper smelter, said it planned to raise refined-copper output in the financial year started 1 April by 4.6 percent on-year. KAZ Minerals posted a 29.2 percent on-year rise in copper production to 67,300 tonnes in the first quarter, supported by higher output from sulfides plants at its Bozshakol and Aktogay operations in Kazakhstan. The total was also up 3.2 percent on quarter, the company said. Copper demand will surpass supply earlier than ex-pected, said participants at a copper conference in Chile. Rio Tinto’s Arnaud Soirat, chief executive for copper, said increased consumption from new technologies, including electric vehicles, will drive demand. He anticipates global supply and demand almost in balance in 2019 and 2020, with deficit increasingly evident after that. Over 200 now-operating copper mines will end their productive life be-fore 2035. LME copper stocks decreased to 334 650.00 tonnes in April.

Daily Prices

April 2018

Copper
Date(Fix.) ($/MT)
Average 6838.55
30-04-2018 6783
27-04-2018 6797
26-04-2018 6885.5
25-04-2018 6960.5
24-04-2018 6987
23-04-2018 6923
20-04-2018 6939
19-04-2018 6942
18-04-2018 6936
17-04-2018 6784
16-04-2018 6811.5
13-04-2018 6830
12-04-2018 6756
11-04-2018 6930.5
10-04-2018 6888
09-04-2018 6767
06-04-2018 6703
05-04-2018 6767
04-04-2018 6625
03-04-2018 6756
Silver
Date(Fix.) ($/OZ)
Average 16.61
30-04-2018 16.38
27-04-2018 16.53
26-04-2018 16.575
25-04-2018 16.57
24-04-2018 16.595
23-04-2018 16.935
20-04-2018 17.11
19-04-2018 17.195
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.) ($/OZ)
Average 1334.38
30-04-2018 1316.25
27-04-2018 1317.7
26-04-2018 1321.9
25-04-2018 1325.7
24-04-2018 1327.35
23-04-2018 1328
20-04-2018 1340.15
19-04-2018 1347.9
18-04-2018 1346.55
17-04-2018 1342.95
16-04-2018 1344.4
13-04-2018 1340.75
12-04-2018 1345.9
11-04-2018 1345.2
10-04-2018 1335.95
09-04-2018 1328.5
06-04-2018 1325.6
05-04-2018 1327.05
04-04-2018 1343.15
03-04-2018 1336.6
Date(Fix.) ($/OZ)
Average 1334.56
30-04-2018 1314.725
27-04-2018 1319.6
26-04-2018 1321.3
25-04-2018 1323.675
24-04-2018 1328.1
23-04-2018 1326.15
20-04-2018 1338.45
19-04-2018 1348.25
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.) ($/OZ)
Average 1334.74
30-04-2018 1313.2
27-04-2018 1321.5
26-04-2018 1320.7
25-04-2018 1321.65
24-04-2018 1328.85
23-04-2018 1324.3
20-04-2018 1336.75
19-04-2018 1348.6
18-04-2018 1351.45
17-04-2018 1342.1
16-04-2018 1349.35
13-04-2018 1343.7
12-04-2018 1341.35
11-04-2018 1350.75
10-04-2018 1338.95
09-04-2018 1331.95
06-04-2018 1331.2
05-04-2018 1327.7
04-04-2018 1337.3
03-04-2018 1333.45
Lead
Date(Fix.) ($/MT)
Average 2357.38
30-04-2018 2345
27-04-2018 2336
26-04-2018 2300.5
25-04-2018 2325
24-04-2018 2348.5
23-04-2018 2348
20-04-2018 2366
19-04-2018 2347
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.) ($/MT)
Average 3190.93
30-04-2018 3171
27-04-2018 3120.5
26-04-2018 3098
25-04-2018 3162
24-04-2018 3240.5
23-04-2018 3215
20-04-2018 3243.5
19-04-2018 3232
18-04-2018 3186.5
17-04-2018 3115
16-04-2018 3116
13-04-2018 3121
12-04-2018 3115
11-04-2018 3236.5
10-04-2018 3240
09-04-2018 3216.5
06-04-2018 3222
05-04-2018 3234
04-04-2018 3249
03-04-2018 3284.5
Tin
Date(Fix.) ($/MT)
Average 21339.50
30-04-2018 21150
27-04-2018 21400
26-04-2018 21475
25-04-2018 21500
24-04-2018 21250
23-04-2018 21850
20-04-2018 22050
19-04-2018 21875
18-04-2018 21725
17-04-2018 21200
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.) ($/MT)
Average 13934.50
30-04-2018 13725
27-04-2018 13980
26-04-2018 13945
25-04-2018 14120
24-04-2018 14250
23-04-2018 14050
20-04-2018 14640
19-04-2018 15710
18-04-2018 15105
17-04-2018 13950
16-04-2018 14150
13-04-2018 14005
12-04-2018 13585
11-04-2018 13740
10-04-2018 13700
09-04-2018 13240
06-04-2018 12890
05-04-2018 13285
04-04-2018 13060
03-04-2018 13560
Cobalt
Date(Fix.) ($/MT)
Average 90862.50
30-04-2018 88750
27-04-2018 88750
26-04-2018 88750
25-04-2018 88500
24-04-2018 91500
23-04-2018 91500
20-04-2018 91500
19-04-2018 91500
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