Monthly Metal Review

Overview

Metals prices have recently been following the euro/dollar movements, due to little fundamental news and lack of demand from the largest consumer China. Nickel prices rose strongly, standing strong in the face of weakness across the rest of the base metals sector. Supply disruptions in Australia pushed nickel up to as high as US$ 24,950 a ton. Copper traded above the US$ 8,000 mark helped by the national Peruvian miners’ strike. Prices have also found good support from the dollar’s weakness and a further decline in LME inventories keeping concerns over tight global supplies. Rising oil prices and weakness in the US dollar tend to fuel investment demand for precious metals. In the US, retail sales rose 1 percent in May, or twice the forecast rate and the biggest monthly increase since November 2007. Also, the latest measure of existing home sales produced by the National Association of Realtors showed a 2 percent rise in May to an annual rate of 4.99m units. Following its last meeting, the US Federal Reserve kept its interest rates on hold at 2 percent. Annual inflation in the Eurozone was 3.7 per cent in May, its highest level for 16 years, according to Eurostat, the European Union’s statistical office. Inflation has been driven up by sharp rises in oil and food prices. Recent data pointed to a slowdown in the Eurozone manufacturing sector and a weakening business climate in Germany. The purchasing managers’ index dropped from 50.6 in May to 49.1 in June. Germany’s Ifo economic institute reported its business climate index fell to 101.3 in June from 103.5 in May. Chinese exports rose 28.9 percent in May, up from 21.9 percent in April, while imports surged 40 percent. The figures indicate that the global slowdown has not seriously hurt China’s export sector.

Daily Prices

June 2008

Copper
Date(Fix.) ($/MT)
Average 8260.60
30-06-2008 8775.5
27-06-2008 8680
26-06-2008 8551
25-06-2008 8542
24-06-2008 8491.5
23-06-2008 8540.5
20-06-2008 8590
19-06-2008 8385.5
18-06-2008 8296
17-06-2008 8181
16-06-2008 8255
13-06-2008 8025
12-06-2008 7955
11-06-2008 7989
10-06-2008 8050
09-06-2008 8092.5
06-06-2008 8106
05-06-2008 7921
04-06-2008 8006
03-06-2008 8060
02-06-2008 7980
Silver
Date(Fix.) ($/OZ)
Average 16.97
30-06-2008 17.65
27-06-2008 17.4
26-06-2008 16.88
25-06-2008 16.7
24-06-2008 16.85
23-06-2008 17.19
20-06-2008 17.44
19-06-2008 17.22
18-06-2008 17
17-06-2008 17.22
16-06-2008 16.73
13-06-2008 16.31
12-06-2008 16.59
11-06-2008 16.58
10-06-2008 16.94
09-06-2008 17.46
06-06-2008 17.19
05-06-2008 16.65
04-06-2008 16.67
03-06-2008 16.82
02-06-2008 16.86
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
30-06-2008 -
27-06-2008 -
26-06-2008 -
25-06-2008 -
24-06-2008 -
23-06-2008 -
20-06-2008 -
19-06-2008 -
18-06-2008 -
17-06-2008 -
16-06-2008 -
13-06-2008 -
12-06-2008 -
11-06-2008 -
10-06-2008 -
09-06-2008 -
06-06-2008 -
05-06-2008 -
04-06-2008 -
03-06-2008 -
02-06-2008 -
Date(Fix.) ($/OZ)
Average -
30-06-2008 -
27-06-2008 -
26-06-2008 -
25-06-2008 -
24-06-2008 -
23-06-2008 -
20-06-2008 -
19-06-2008 -
18-06-2008 -
17-06-2008 -
16-06-2008 -
13-06-2008 -
12-06-2008 -
11-06-2008 -
10-06-2008 -
09-06-2008 -
06-06-2008 -
05-06-2008 -
04-06-2008 -
03-06-2008 -
02-06-2008 -
Date(Fix.) ($/OZ)
Average 889.80
30-06-2008 930.25
27-06-2008 919.5
26-06-2008 909.5
25-06-2008 882.75
24-06-2008 889.5
23-06-2008 881
20-06-2008 907.5
19-06-2008 903
18-06-2008 887.5
17-06-2008 881.5
16-06-2008 888.25
13-06-2008 866
12-06-2008 862.25
11-06-2008 876.25
10-06-2008 884.5
09-06-2008 896.25
06-06-2008 890.5
05-06-2008 878.75
04-06-2008 883.5
03-06-2008 879.25
02-06-2008 888.25
Lead
Date(Fix.) ($/MT)
Average 1863.05
30-06-2008 1735.5
27-06-2008 1796
26-06-2008 1800
25-06-2008 1773.5
24-06-2008 1801
23-06-2008 1821
20-06-2008 1870
19-06-2008 1806.5
18-06-2008 1886
17-06-2008 1802
16-06-2008 1738
13-06-2008 1800.5
12-06-2008 1837
11-06-2008 1901
10-06-2008 1950
09-06-2008 1935
06-06-2008 1935.5
05-06-2008 1942
04-06-2008 2003
03-06-2008 2030.5
02-06-2008 1960
Zinc
Date(Fix.) ($/MT)
Average 1894.45
30-06-2008 1875
27-06-2008 1917
26-06-2008 1890
25-06-2008 1852.5
24-06-2008 1875
23-06-2008 1898.5
20-06-2008 1925.5
19-06-2008 1885.5
18-06-2008 1891.5
17-06-2008 1841.5
16-06-2008 1812
13-06-2008 1850.5
12-06-2008 1855
11-06-2008 1862.5
10-06-2008 1902
09-06-2008 1950
06-06-2008 1938
05-06-2008 1934
04-06-2008 1948.5
03-06-2008 1944
02-06-2008 1935
Tin
Date(Fix.) ($/MT)
Average 22229.29
30-06-2008 23310
27-06-2008 23345
26-06-2008 23105
25-06-2008 22975
24-06-2008 23400
23-06-2008 23225
20-06-2008 22850
19-06-2008 22350
18-06-2008 22505
17-06-2008 21950
16-06-2008 21850
13-06-2008 21375
12-06-2008 21175
11-06-2008 21200
10-06-2008 21300
09-06-2008 22250
06-06-2008 22550
05-06-2008 22600
04-06-2008 21300
03-06-2008 21550
02-06-2008 20650