Monthly Metal Review

Overview

Confidence builds with hopes of a sustained recovery in the global economy fuelled by news that the eurozone’s recession may be coming to a close. In August the S&P and oil rose to their highest levels within the last 10 months.
Investors have been caught slightly off guard as the usual relationship between US equities, government bonds and commodity prices seem to splinter. Base metals have been the clear beneficiaries of an improved risk appetite as they move higher.
The commodities market has rallies after receiving better than expected economic data. Nevertheless investors seem to have one overarching fixation as they look to the east at a possible “Bull in a China shop” effect.
Could Chinas volatile stock market trigger a global correction that may eat up much of the stock gains since March? This is a change from the typically sluggish August with thin trading volumes. Leading to a strange and exciting summer as base metal prices seem to rollercoaster pulling back early in the month just to smash through some of its highest levels.
The upbeat housing data to come out of the US and optimistic comments from world key central bankers encouraged investors towards the end of August to buy riskier assets and powering world stocks to a 10-month high.
Mid August aluminium rose 4% at $2,065 a tonne; copper added 3.6% at $6,410 at tonne after hitting $6,450; lead gained 4.3% at $1,925 a tonne; nickel went up 4.9% at $20,605 a tonne after touching $21,225; tin lagged behind a bit rising 1.7% to $15,100 a tonne; zinc rose 3.2% to $1,910 a tonne after reaching $1,945.
Some metals finding support from increasing Chinese imports, due to the government stimulus package that has prompted many infrastructure projects to go fast track to completion. Transamine has secured a strategic partnership with Citadel acquiring approximately 5% of Citadel on a fully diluted basis and obtaining a five year offtake agreement for 50,000 dry metric tons per annum of copper concentrates from the Jabal Sayid copper project.

Daily Prices

August 2009

Copper
Date(Fix.) ($/MT)
Average 6165.30
28-08-2009 6490.5
27-08-2009 6261
26-08-2009 6305
25-08-2009 6285.5
24-08-2009 6361
21-08-2009 6135
20-08-2009 6122
19-08-2009 5947
18-08-2009 6116
17-08-2009 6096
14-08-2009 6386
13-08-2009 6419
12-08-2009 6029
11-08-2009 6136
10-08-2009 6197
07-08-2009 5964
06-08-2009 6035
05-08-2009 6132
04-08-2009 5917
03-08-2009 5972
Silver
Date(Fix.) ($/OZ)
Average 14.35
28-08-2009 14.54
27-08-2009 14.2
26-08-2009 14.32
25-08-2009 14.11
24-08-2009 14.41
21-08-2009 14.01
20-08-2009 14.04
19-08-2009 13.585
18-08-2009 14.09
17-08-2009 14.13
14-08-2009 14.98
13-08-2009 15.07
12-08-2009 14.28
11-08-2009 14.355
10-08-2009 14.47
07-08-2009 14.65
06-08-2009 14.67
05-08-2009 14.67
04-08-2009 14.08
03-08-2009 14.29
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
28-08-2009 -
27-08-2009 -
26-08-2009 -
25-08-2009 -
24-08-2009 -
21-08-2009 -
20-08-2009 -
19-08-2009 -
18-08-2009 -
17-08-2009 -
14-08-2009 -
13-08-2009 -
12-08-2009 -
11-08-2009 -
10-08-2009 -
07-08-2009 -
06-08-2009 -
05-08-2009 -
04-08-2009 -
03-08-2009 -
Date(Fix.) ($/OZ)
Average -
28-08-2009 -
27-08-2009 -
26-08-2009 -
25-08-2009 -
24-08-2009 -
21-08-2009 -
20-08-2009 -
19-08-2009 -
18-08-2009 -
17-08-2009 -
14-08-2009 -
13-08-2009 -
12-08-2009 -
11-08-2009 -
10-08-2009 -
07-08-2009 -
06-08-2009 -
05-08-2009 -
04-08-2009 -
03-08-2009 -
Date(Fix.) ($/OZ)
Average 949.38
28-08-2009 955.5
27-08-2009 943
26-08-2009 940.5
25-08-2009 950.5
24-08-2009 951.5
21-08-2009 952.5
20-08-2009 940.5
19-08-2009 943
18-08-2009 935
17-08-2009 932.75
14-08-2009 953.5
13-08-2009 953.5
12-08-2009 947.25
11-08-2009 942.75
10-08-2009 945
07-08-2009 956
06-08-2009 964
05-08-2009 960.5
04-08-2009 960.5
03-08-2009 959.75
Lead
Date(Fix.) ($/MT)
Average 1900.10
28-08-2009 2118
27-08-2009 2020.5
26-08-2009 2077
25-08-2009 2006
24-08-2009 1945.5
21-08-2009 1845
20-08-2009 1821
19-08-2009 1790
18-08-2009 1825
17-08-2009 1785.5
14-08-2009 1905
13-08-2009 1886.5
12-08-2009 1775
11-08-2009 1825
10-08-2009 1891
07-08-2009 1815.5
06-08-2009 1897
05-08-2009 1930.5
04-08-2009 1894
03-08-2009 1949
Zinc
Date(Fix.) ($/MT)
Average 1821.68
28-08-2009 1820
27-08-2009 1818
26-08-2009 1825
25-08-2009 1805.5
24-08-2009 1840
21-08-2009 1808
20-08-2009 1803.5
19-08-2009 1760.5
18-08-2009 1780
17-08-2009 1755.5
14-08-2009 1874
13-08-2009 1897.5
12-08-2009 1785
11-08-2009 1837
10-08-2009 1872.5
07-08-2009 1822
06-08-2009 1872.5
05-08-2009 1851
04-08-2009 1795
03-08-2009 1811
Tin
Date(Fix.) ($/MT)
Average 14869.75
28-08-2009 14400
27-08-2009 14250
26-08-2009 14225
25-08-2009 14600
24-08-2009 14825
21-08-2009 14400
20-08-2009 14650
19-08-2009 14100
18-08-2009 14900
17-08-2009 14600
14-08-2009 15550
13-08-2009 15650
12-08-2009 14910
11-08-2009 14975
10-08-2009 15240
07-08-2009 14850
06-08-2009 15700
05-08-2009 15355
04-08-2009 14800
03-08-2009 15415