Monthly Metal Review

Nickel and Cobalt (October 2015)

In London, Nickel decreased to US$ 4.60 per lb, while cobalt min. 99.3% was 3.77% lower at 12.75 per lb this month. Perth-based nickel producer Western Areas postponed some A$32.6 million (US$23.6 million) in proposed 2016 capex for a year on weak nickel prices. Insisting it could rein-state spending if prices recover, WA said production guidance and costs won’t change. The company said it can withstand low prices, especially with its debt-free balance sheet. Brazil-focused Horizonte Minerals is buying the GAP Ara-guaia nickel project in north-central Brazil for the discount price of US$8 million in cash and shares. London-based Horizonte owns the similarly-named advanced Araguaia nick-el laterite project near the Carajas mineral district. Horizonte said the combined projects will produce one of the largest undeveloped saprolite nickel resources in size and grade with lower-cost potential. Indoferro, the Indonesian nickel pig-iron producer on the island of Java, said it will increase 2016 capacity by 12,000 tonnes yearly. The addition, from an 8,000-tonne at 6- to 7-percent NPI, will boost capacity to 20,000 tonnes yearly. Next year’s production is to be 10- to 12-percent NPI. Indonesia’s Growth Steel Group owns Indoferro. China’s State Reserve Bureau issued a tender for a 400-tonne cobalt stockpile in late September. In response, the spot range was boosted and market oversupply expected to ease. An18-month production suspension at Katanga Min-ing in the DRC should also impact cobalt supplies. LME-owner Hong Kong Exchanges and Clearing Limited (HKEx) plans to introduce renminbi-denominated London metal mini futures contracts for nickel, tin and lead. Intro-duction of the new contracts depends on regulatory ap-proval. London aluminium, copper and zinc mini futures were introduced in December. LME Nickel stocks decreased from 453,246 to 426,030 tonnes in October.

Daily Prices

November 2015

Copper
Date(Fix.) ($/MT)
Average 4808.24
30-11-2015 4595.5
27-11-2015 4636
26-11-2015 4667
25-11-2015 4541
24-11-2015 4527
23-11-2015 4515.5
20-11-2015 4690
19-11-2015 4610
18-11-2015 4669
17-11-2015 4700
16-11-2015 4765
13-11-2015 4825
12-11-2015 4872.5
11-11-2015 4931
10-11-2015 4933.5
09-11-2015 4990
06-11-2015 5000
05-11-2015 5053
04-11-2015 5165.5
03-11-2015 5149
02-11-2015 5137.5
Silver
Date(Fix.) ($/OZ)
Average 14.51
30-11-2015 14.08
27-11-2015 14.11
26-11-2015 14.29
25-11-2015 14.07
24-11-2015 14.14
23-11-2015 13.98
20-11-2015 14.29
19-11-2015 14.21
18-11-2015 14.17
17-11-2015 14.25
16-11-2015 14.36
13-11-2015 14.39
12-11-2015 14.39
11-11-2015 14.44
10-11-2015 14.55
09-11-2015 14.78
06-11-2015 15.08
05-11-2015 15.02
04-11-2015 15.26
03-11-2015 15.38
02-11-2015 15.4
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1088.39
30-11-2015 1055.65
27-11-2015 1064.65
26-11-2015 1070.5
25-11-2015 1072.2
24-11-2015 1073
23-11-2015 1068.35
20-11-2015 1085.15
19-11-2015 1073.1
18-11-2015 1070.5
17-11-2015 1080.8
16-11-2015 1094.5
13-11-2015 1083.75
12-11-2015 1087.6
11-11-2015 1088.6
10-11-2015 1092.5
09-11-2015 1095.6
06-11-2015 1107.7
05-11-2015 1107.3
04-11-2015 1118
03-11-2015 1130.9
02-11-2015 1135.8
Date(Fix.) ($/OZ)
Average 1087.05
30-11-2015 1058.775
27-11-2015 1061.025
26-11-2015 1070.75
25-11-2015 1070.1
24-11-2015 1074.7
23-11-2015 1069.425
20-11-2015 1083.45
19-11-2015 1077.85
18-11-2015 1069.125
17-11-2015 1080
16-11-2015 1089.625
13-11-2015 1082.625
12-11-2015 1087.5
11-11-2015 1087.25
10-11-2015 1089.8
09-11-2015 1092.6
06-11-2015 1098.3
05-11-2015 1106.8
04-11-2015 1116.35
03-11-2015 1127
02-11-2015 1134.9
Date(Fix.) ($/OZ)
Average 1085.70
30-11-2015 1061.9
27-11-2015 1057.4
26-11-2015 1071
25-11-2015 1068
24-11-2015 1076.4
23-11-2015 1070.5
20-11-2015 1081.75
19-11-2015 1082.6
18-11-2015 1067.75
17-11-2015 1079.2
16-11-2015 1084.75
13-11-2015 1081.5
12-11-2015 1087.4
11-11-2015 1085.9
10-11-2015 1087.1
09-11-2015 1089.6
06-11-2015 1088.9
05-11-2015 1106.3
04-11-2015 1114.7
03-11-2015 1123.1
02-11-2015 1134
Lead
Date(Fix.) ($/MT)
Average 1615.98
30-11-2015 1630
27-11-2015 1613.5
26-11-2015 1640
25-11-2015 1593
24-11-2015 1593
23-11-2015 1555
20-11-2015 1617
19-11-2015 1561.5
18-11-2015 1573.5
17-11-2015 1589
16-11-2015 1597
13-11-2015 1593.5
12-11-2015 1592.5
11-11-2015 1596
10-11-2015 1630.5
09-11-2015 1652
06-11-2015 1639
05-11-2015 1647
04-11-2015 1677.5
03-11-2015 1671
02-11-2015 1674
Zinc
Date(Fix.) ($/MT)
Average 1582.29
30-11-2015 1545
27-11-2015 1541.5
26-11-2015 1601.5
25-11-2015 1555.5
24-11-2015 1548.5
23-11-2015 1505
20-11-2015 1577.5
19-11-2015 1487
18-11-2015 1511.5
17-11-2015 1553
16-11-2015 1578
13-11-2015 1586
12-11-2015 1570.5
11-11-2015 1568
10-11-2015 1596.5
09-11-2015 1639.5
06-11-2015 1627
05-11-2015 1635.5
04-11-2015 1674.5
03-11-2015 1654
02-11-2015 1672.5
Tin
Date(Fix.) ($/MT)
Average 14742.62
30-11-2015 14985
27-11-2015 15015
26-11-2015 14955
25-11-2015 14595
24-11-2015 14230
23-11-2015 14525
20-11-2015 14795
19-11-2015 14600
18-11-2015 14660
17-11-2015 14800
16-11-2015 14845
13-11-2015 14775
12-11-2015 14655
11-11-2015 14750
10-11-2015 14595
09-11-2015 14555
06-11-2015 14710
05-11-2015 14750
04-11-2015 14880
03-11-2015 14995
02-11-2015 14925
Nickel
Date(Fix.) ($/MT)
Average 9232.14
30-11-2015 8735
27-11-2015 8765
26-11-2015 9120
25-11-2015 8650
24-11-2015 8425
23-11-2015 8160
20-11-2015 8900
19-11-2015 8885
18-11-2015 8955
17-11-2015 9165
16-11-2015 9405
13-11-2015 9365
12-11-2015 9370
11-11-2015 9450
10-11-2015 9495
09-11-2015 9600
06-11-2015 9725
05-11-2015 9690
04-11-2015 9970
03-11-2015 9995
02-11-2015 10050
Cobalt
Date(Fix.) ($/MT)
Average 24716.67
30-11-2015 25000
27-11-2015 24250
26-11-2015 23500
25-11-2015 23500
24-11-2015 23500
23-11-2015 23500
20-11-2015 23500
19-11-2015 23500
18-11-2015 24000
17-11-2015 24000
16-11-2015 24150
13-11-2015 24550
12-11-2015 24550
11-11-2015 26000
10-11-2015 26000
09-11-2015 26000
06-11-2015 25700
05-11-2015 25700
04-11-2015 26000
03-11-2015 26000
02-11-2015 26150