Monthly Metal Review

Overview


   The Dubai debt brought a shock to the system at the end of this month rattling investor’s already skittish confidence. Making the global risk assets look more precarious, including a heightened sense of foreboding amidst the backdrop of the financial crisis, as investors continue to seek safe havens. 
    As investors scurry and scramble to find the safest possible haven they have spurred the demand for physical gold. That coupled with both Sri Lanka’s and India’s more considerable bullion purchases sent the gold price skyrocketing to new towering heights this month. Nevertheless gold did ease back a bit at the end of the month that helped the dollar bounce off its 14-year low against the yen and its 15-month low against the euro in the currency market basket. 
    Could the LME be getting more cleaver as members are now using LMEsmart to match and register trades. This will replace the services operated by the LCH.Clearnet, the clearing house. The aim is to provide further flexibility in matching and even swifter product launches. 
    The ore demand nudges freight cost higher as the request for dry bulk commodities seem to suggest that the possibility of strong economic growth may lie ahead. Yet lossmaking shipyards desperately seek to entice investor interest. Some even hoping to receive highly specialized orders that are not intended to be set out on the waters. As one of Croatia’s main shipbuilding companies looks to be commissioned for a rotating hotel that would allow guest to enjoy different views from their rooms. 
    Well if high seas are not attracting investors perhaps the ground will prove more fruitful as mining may offer a glimmer of hope for landlocked Zimbabwe. While after three years of silence the Freda Rebecca mine begins to stir with activity again. For Mwana Africa it has not been easy to lure investors to a project that lies in one of Africa’s most politically tormented countries. With much enthusiasm they are steadfast determined to overcome obstacles and prove doubters wrong, which if successful could provide a gleaming example for Africa.
    The volatility of the markets has given much food for thought at a time when the prices seem to be defying the fundamentals. Analysts have even compared our current times within the crisis as the hangover after the party. And the market’s volatility seems to reflect the staggering of a sever hangover while investors seek support in something solid. Hence why physical assets have been proving so attractive and metals have been following gold’s lead to new elevations. However the U.S. Dollars resent bounce off records lows against a basket of other major currencies perhaps will prove the dollar is no longer a one-way bet.

Daily Prices

November 2009

Copper
Date(Fix.) ($/MT)
Average 6675.60
30-11-2009 6814.5
27-11-2009 6755
26-11-2009 6904.5
25-11-2009 6914
24-11-2009 6865
23-11-2009 6945.5
20-11-2009 6731
19-11-2009 6761
18-11-2009 6926
17-11-2009 6761
16-11-2009 6700.5
13-11-2009 6500
12-11-2009 6475
11-11-2009 6595.5
10-11-2009 6475
09-11-2009 6565
06-11-2009 6532
05-11-2009 6527.5
04-11-2009 6571
03-11-2009 6395.5
02-11-2009 6473
Silver
Date(Fix.) ($/OZ)
Average 17.82
30-11-2009 18.14
27-11-2009 17.98
26-11-2009 18.49
25-11-2009 18.63
24-11-2009 18.57
23-11-2009 18.76
20-11-2009 18.18
19-11-2009 18.2
18-11-2009 18.74
17-11-2009 18.1
16-11-2009 17.74
13-11-2009 17.3225
12-11-2009 17.51
11-11-2009 17.63
10-11-2009 17.26
09-11-2009 17.68
06-11-2009 17.525
05-11-2009 17.38
04-11-2009 17.48
03-11-2009 16.35
02-11-2009 16.58
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
30-11-2009 -
27-11-2009 -
26-11-2009 -
25-11-2009 -
24-11-2009 -
23-11-2009 -
20-11-2009 -
19-11-2009 -
18-11-2009 -
17-11-2009 -
16-11-2009 -
13-11-2009 -
12-11-2009 -
11-11-2009 -
10-11-2009 -
09-11-2009 -
06-11-2009 -
05-11-2009 -
04-11-2009 -
03-11-2009 -
02-11-2009 -
Date(Fix.) ($/OZ)
Average -
30-11-2009 -
27-11-2009 -
26-11-2009 -
25-11-2009 -
24-11-2009 -
23-11-2009 -
20-11-2009 -
19-11-2009 -
18-11-2009 -
17-11-2009 -
16-11-2009 -
13-11-2009 -
12-11-2009 -
11-11-2009 -
10-11-2009 -
09-11-2009 -
06-11-2009 -
05-11-2009 -
04-11-2009 -
03-11-2009 -
02-11-2009 -
Date(Fix.) ($/OZ)
Average 1127.04
30-11-2009 1175.75
27-11-2009 1166.5
26-11-2009 1182.75
25-11-2009 1179.75
24-11-2009 1163.25
23-11-2009 1169.5
20-11-2009 1140
19-11-2009 1135.5
18-11-2009 1149
17-11-2009 1134.75
16-11-2009 1130
13-11-2009 1104
12-11-2009 1114.75
11-11-2009 1115.25
10-11-2009 1101.5
09-11-2009 1106.75
06-11-2009 1096.75
05-11-2009 1089
04-11-2009 1090
03-11-2009 1061
02-11-2009 1062
Lead
Date(Fix.) ($/MT)
Average 2308.76
30-11-2009 2290
27-11-2009 2289
26-11-2009 2344
25-11-2009 2354
24-11-2009 2358
23-11-2009 2375.5
20-11-2009 2309
19-11-2009 2335
18-11-2009 2405
17-11-2009 2331
16-11-2009 2290.5
13-11-2009 2241
12-11-2009 2251
11-11-2009 2312.5
10-11-2009 2258
09-11-2009 2278
06-11-2009 2320
05-11-2009 2320
04-11-2009 2312
03-11-2009 2250.5
02-11-2009 2260
Zinc
Date(Fix.) ($/MT)
Average 2193.38
30-11-2009 2226.5
27-11-2009 2198
26-11-2009 2242
25-11-2009 2248
24-11-2009 2221
23-11-2009 2258.5
20-11-2009 2196.5
19-11-2009 2205
18-11-2009 2252
17-11-2009 2235
16-11-2009 2200
13-11-2009 2136
12-11-2009 2131
11-11-2009 2155.5
10-11-2009 2121.5
09-11-2009 2188.5
06-11-2009 2168
05-11-2009 2185.5
04-11-2009 2201.5
03-11-2009 2146
02-11-2009 2145
Tin
Date(Fix.) ($/MT)
Average 14942.38
30-11-2009 14800
27-11-2009 14825
26-11-2009 15025
25-11-2009 15000
24-11-2009 14960
23-11-2009 15075
20-11-2009 15000
19-11-2009 15100
18-11-2009 15255
17-11-2009 14800
16-11-2009 14880
13-11-2009 14855
12-11-2009 14775
11-11-2009 14945
10-11-2009 14860
09-11-2009 15050
06-11-2009 14975
05-11-2009 15010
04-11-2009 15000
03-11-2009 14700
02-11-2009 14900