Monthly Metal Review

Tin

In London, Tin settlement price decreased to US$ 20800 per tonne closing this month with a backwardation of US$ 50. Tin prices have been one of the weaker metals on the LME in May with prices dropping to a low of $19,985 per tonne, the lowest since early-January. Rising LME and SHFE stocks have been a bearish factor, with exchange stocks rising 1,569 tonnes to 9,279 tonnes. Higher volumes on the Indone-sian Commodity and Derivatives Exchange, which have so far reached 9,000 tonnes in May, compared with around 4,000 tonnes in April, also suggest greater exports and availability. In line with this, the backwardation in the cash-to-three months spread has eased to $70 per tonne, from $140 per tonne at the end of April. Indonesia issued tin-export permits to 12 companies covering a total of 51,368 tonnes, the trade ministry said after a change in government export regulations and red tape required miners to stop exporting on March 20. The first shipment was scheduled for mid-May,PT Timah said. The permits are valid until December of this year. First-quarter results for Indonesia’s state tin producer, PT Timah, show a 23 percent on-year drop in its refined-tin production to 5,361 tonnes, the lowest quarterly output since early 2016. Tin-ore production by Timah and its partners fell 26 percent on-year from 7,494 tonnes to 5,550 tonnes. The company said the lower output is temporary, related to recent export-license regulations changes and adverse weather condi-tions. The company previously stated a target of 35,500 tonnes of 2018 tin-mine output. Comibol, Bolivia's state mining company is to make a third attempt at attracting bids for a new, 503-million boliviano (US$77-million) tin-zinc concentrator plant expansion at the Colquiri tin-zinc mine in western Bolivia’s La Paz Department. Refined tin production from Minsur’s first-quarter oper-ations in Peru and Brazil totaled 4,983 tonnes, unchanged on-year and in line with expectations. Brazilian operations had a strong first quarter on-year, producing 1,800 tonnes of tin-in-concentrate and 1,500 tonnes of refined tin, up 2 and 5 percent on-year respectively. The higher output was largely the result of increased tin head grades at the mine of 0.22 percent and a higher feed volume to smelter. LME Tin stocks increased from 2225 to 2420 tonnes in May.

Daily Prices

May 2018

Copper
Date(Fix.) ($/MT)
Average 6821.76
31-05-2018 6825
30-05-2018 6810
29-05-2018 6841.5
25-05-2018 6886
24-05-2018 6835
23-05-2018 6800
22-05-2018 6931.5
21-05-2018 6861
18-05-2018 6783.5
17-05-2018 6838
16-05-2018 6773.5
15-05-2018 6822.5
14-05-2018 6828
11-05-2018 6869
10-05-2018 6862
09-05-2018 6786
08-05-2018 6722
04-05-2018 6783
03-05-2018 6837
02-05-2018 6785
01-05-2018 6777.5
Silver
Date(Fix.) ($/OZ)
Average 16.47
31-05-2018 16.55
30-05-2018 16.37
29-05-2018 16.475
25-05-2018 16.67
24-05-2018 16.51
23-05-2018 16.53
22-05-2018 16.58
21-05-2018 16.34
18-05-2018 16.39
17-05-2018 16.385
16-05-2018 16.255
15-05-2018 16.41
14-05-2018 16.645
11-05-2018 16.76
10-05-2018 16.6
09-05-2018 16.55
08-05-2018 16.445
04-05-2018 16.415
03-05-2018 16.47
02-05-2018 16.35
01-05-2018 16.25
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1303.61
31-05-2018 1303.5
30-05-2018 1298.6
29-05-2018 1302.05
25-05-2018 1303.95
24-05-2018 1296.35
23-05-2018 1294
22-05-2018 1293.9
21-05-2018 1285.85
18-05-2018 1287.2
17-05-2018 1288.85
16-05-2018 1291.75
15-05-2018 1310.05
14-05-2018 1320.7
11-05-2018 1324.8
10-05-2018 1314.8
09-05-2018 1306.85
08-05-2018 1310.05
04-05-2018 1309.35
03-05-2018 1313.3
02-05-2018 1310.75
01-05-2018 1309.2
Date(Fix.) ($/OZ)
Average 1303.32
31-05-2018 1304.425
30-05-2018 1299.65
29-05-2018 1298.775
25-05-2018 1303.725
24-05-2018 1300.6
23-05-2018 1291.5
22-05-2018 1293.475
21-05-2018 1287.1
18-05-2018 1287.75
17-05-2018 1289.175
16-05-2018 1291.5
15-05-2018 1302.525
14-05-2018 1320.275
11-05-2018 1324.575
10-05-2018 1316.8
09-05-2018 1310.35
08-05-2018 1308.325
04-05-2018 1309.375
03-05-2018 1314.175
02-05-2018 1307.475
01-05-2018 1308.15
Date(Fix.) ($/OZ)
Average 1303.03
31-05-2018 1305.35
30-05-2018 1300.7
29-05-2018 1295.5
25-05-2018 1303.5
24-05-2018 1304.85
23-05-2018 1289
22-05-2018 1293.05
21-05-2018 1288.35
18-05-2018 1288.3
17-05-2018 1289.5
16-05-2018 1291.25
15-05-2018 1295
14-05-2018 1319.85
11-05-2018 1324.35
10-05-2018 1318.8
09-05-2018 1313.85
08-05-2018 1306.6
04-05-2018 1309.4
03-05-2018 1315.05
02-05-2018 1304.2
01-05-2018 1307.1
Lead
Date(Fix.) ($/MT)
Average 2363.88
31-05-2018 2445.5
30-05-2018 2421
29-05-2018 2423
25-05-2018 2465
24-05-2018 2502
23-05-2018 2441
22-05-2018 2448
21-05-2018 2360
18-05-2018 2330.5
17-05-2018 2325
16-05-2018 2321
15-05-2018 2346
14-05-2018 2380
11-05-2018 2332
10-05-2018 2300
09-05-2018 2291
08-05-2018 2301.5
04-05-2018 2274
03-05-2018 2279
02-05-2018 2320
01-05-2018 2336
Zinc
Date(Fix.) ($/MT)
Average 3057.86
31-05-2018 3100
30-05-2018 3107
29-05-2018 3080
25-05-2018 3048
24-05-2018 3022
23-05-2018 3006
22-05-2018 3038.5
21-05-2018 3098
18-05-2018 3080.5
17-05-2018 3053
16-05-2018 3055
15-05-2018 3060.5
14-05-2018 3020.5
11-05-2018 3080
10-05-2018 3072
09-05-2018 3066
08-05-2018 3066
04-05-2018 2968
03-05-2018 3028
02-05-2018 3065.5
01-05-2018 3100.5
Tin
Date(Fix.) ($/MT)
Average 20899.76
31-05-2018 20800
30-05-2018 20525
29-05-2018 20675
25-05-2018 20450
24-05-2018 20450
23-05-2018 20650
22-05-2018 20725
21-05-2018 20650
18-05-2018 20675
17-05-2018 20660
16-05-2018 20895
15-05-2018 21025
14-05-2018 21025
11-05-2018 20950
10-05-2018 20800
09-05-2018 21200
08-05-2018 21295
04-05-2018 21375
03-05-2018 21400
02-05-2018 21270
01-05-2018 21400
Nickel
Date(Fix.) ($/MT)
Average 14356.43
31-05-2018 15200
30-05-2018 14870
29-05-2018 14880
25-05-2018 14840
24-05-2018 14525
23-05-2018 14510
22-05-2018 14700
21-05-2018 14615
18-05-2018 14750
17-05-2018 14580
16-05-2018 14410
15-05-2018 14490
14-05-2018 14320
11-05-2018 13910
10-05-2018 13810
09-05-2018 13790
08-05-2018 13940
04-05-2018 13835
03-05-2018 13985
02-05-2018 13915
01-05-2018 13610
Cobalt
Date(Fix.) ($/MT)
Average 90440.48
31-05-2018 89000
30-05-2018 90750
29-05-2018 91000
25-05-2018 91000
24-05-2018 91000
23-05-2018 91500
22-05-2018 92000
21-05-2018 91000
18-05-2018 91000
17-05-2018 91000
16-05-2018 91000
15-05-2018 91000
14-05-2018 91500
11-05-2018 90250
10-05-2018 89500
09-05-2018 89000
08-05-2018 89000
04-05-2018 89000
03-05-2018 90500
02-05-2018 90500
01-05-2018 88750