Monthly Metal Review

Overview

Eurozone finance ministers rejected to extend the bailout of Greece against the backdrop of an es-calating financial crisis in Athens two days after the government imposed capital controls and shut local banks, denying Athens a lifeline as its financial system teeters on the brink of collapse. Greece also missed a €1.5bn payment to the International Monetary Fund, who requires full clearance of arrears before provid-ing any financing to the country. Financial Times reports on Wednesday that Greece was ready to ac-cept most conditions from its international creditors in order to reach a deal over its debt crisis
Miners in Chile almost doubled their ocean wa-ter use last year amidst Chile’s eight-year drought and new projects. Ocean water was 16 percent of all water used at Chilean mines last year, an 88-percent jump on-year, Chile's copper commission said.
First-quarter mining investment in Peru dropped 14 percent on-year, the president of Peru’s National Mining, Oil and Energy society said. The main problem is the increasing difficulty of attracting financing in a lower metal-prices environment.
South Africa’s Davis Tax Committee said the Treasury should review preferential tax rates paid by gold producers. Most miners pay a 28-percent corpo-rate income tax rate. But gold-firm taxes are linked to profit margins because they are considered a declin-ing industry. The Chamber of Mines said its gold producers paid a 25-percent average 2014 rate.
The Organization for Economic Co-operation and Development (OECD) lowered its 2015 global economic-growth forecast to 3.1 percent from its 3.7-percent November prediction. It expects 2016 gross GDP growth of 3.8 percent, with China's ex-pansion tapering to 6.8 percent this year and 6.7 in 2016, from 7.4 percent last year. U.S. 2015 growth was seen falling to 2.0 percent, from last year's 2.2 percent, rising to 2.8 percent in 2016. It forecast a Eurozone jobless rate of 11.1 percent in 2015 and 10.5 in 2016, down from 2014’s 11.5 percent. It said lower oil prices should ensure gradual recovery. But in the UK, salaries grew at the fastest pace since 2008, prompting some analysts to predict a Bank of England interest-rate hike by year’s end. First-quarter UK payrolls rose by 2.7 percent on-year.
The U.S. Federal Reserve could raise interest rates in September, but Fed chief Janet Yellen said positive-growth signs aren’t yet definitive. The Fed left the benchmark federal-funds rate at zero. The U.S. added a robust 280,000 jobs in May, easing concerns after mediocre early-year growth. Private-sector hourly wages rose by 0.3 percent but unem-ployment ticked up to 5.5 percent from 5.4
China’s housing market improved as credit-easing effects kicked in and consumer-confidence components reached 2007 levels. The benchmark market-lending rate fell from 5 to 2 percent. Home sales jumped 30 percent on-year. May home prices in top-tier cities rose 2.8 percent.

Daily Prices

June 2015

Copper
Date(Fix.) ($/MT)
Average 5833.61
30-06-2015 5721
29-06-2015 5767
26-06-2015 5731
25-06-2015 5715.5
24-06-2015 5765
23-06-2015 5725
22-06-2015 5646
19-06-2015 5663
18-06-2015 5761
17-06-2015 5749
16-06-2015 5752
15-06-2015 5760.5
12-06-2015 5888.5
11-06-2015 5906
10-06-2015 6045.5
09-06-2015 5989
08-06-2015 5915
05-06-2015 5924.5
04-06-2015 5954
03-06-2015 5992
02-06-2015 5998.5
01-06-2015 5970.5
Silver
Date(Fix.) ($/OZ)
Average 16.10
30-06-2015 15.7
29-06-2015 15.83
26-06-2015 15.83
25-06-2015 15.77
24-06-2015 15.89
23-06-2015 15.96
22-06-2015 16.19
19-06-2015 16.12
18-06-2015 16.24
17-06-2015 15.98
16-06-2015 16.03
15-06-2015 15.93
12-06-2015 15.93
11-06-2015 15.87
10-06-2015 16.13
09-06-2015 16.13
08-06-2015 16.06
05-06-2015 16.15
04-06-2015 16.47
03-06-2015 16.6
02-06-2015 16.7
01-06-2015 16.61
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1182.25
30-06-2015 1175
29-06-2015 1176.5
26-06-2015 1174.4
25-06-2015 1174.6
24-06-2015 1175.75
23-06-2015 1183.35
22-06-2015 1193.7
19-06-2015 1198.15
18-06-2015 1198
17-06-2015 1178.5
16-06-2015 1182.1
15-06-2015 1178.25
12-06-2015 1179.25
11-06-2015 1180.5
10-06-2015 1186
09-06-2015 1181
08-06-2015 1173.4
05-06-2015 1175.9
04-06-2015 1182.45
03-06-2015 1186.6
02-06-2015 1188.75
01-06-2015 1187.3
Date(Fix.) ($/OZ)
Average 1181.88
30-06-2015 1173
29-06-2015 1176.25
26-06-2015 1172.45
25-06-2015 1173.625
24-06-2015 1174.75
23-06-2015 1180.675
22-06-2015 1189.6
19-06-2015 1200.775
18-06-2015 1199.925
17-06-2015 1178.25
16-06-2015 1179.925
15-06-2015 1179.825
12-06-2015 1181.025
11-06-2015 1179.5
10-06-2015 1187.25
09-06-2015 1179.2
08-06-2015 1173.1
05-06-2015 1170.25
04-06-2015 1179.225
03-06-2015 1188.3
02-06-2015 1190.775
01-06-2015 1193.6
Date(Fix.) ($/OZ)
Average 1181.50
30-06-2015 1171
29-06-2015 1176
26-06-2015 1170.5
25-06-2015 1172.65
24-06-2015 1173.75
23-06-2015 1178
22-06-2015 1185.5
19-06-2015 1203.4
18-06-2015 1201.85
17-06-2015 1178
16-06-2015 1177.75
15-06-2015 1181.4
12-06-2015 1182.8
11-06-2015 1178.5
10-06-2015 1188.5
09-06-2015 1177.4
08-06-2015 1172.8
05-06-2015 1164.6
04-06-2015 1176
03-06-2015 1190
02-06-2015 1192.8
01-06-2015 1199.9
Lead
Date(Fix.) ($/MT)
Average 1836.34
30-06-2015 1754
29-06-2015 1741.5
26-06-2015 1770.5
25-06-2015 1775.5
24-06-2015 1786.5
23-06-2015 1767.5
22-06-2015 1765
19-06-2015 1785
18-06-2015 1810.5
17-06-2015 1784.5
16-06-2015 1791
15-06-2015 1806
12-06-2015 1831
11-06-2015 1895.5
10-06-2015 1941
09-06-2015 1925
08-06-2015 1901.5
05-06-2015 1902.5
04-06-2015 1928.5
03-06-2015 1912
02-06-2015 1916
01-06-2015 1909
Zinc
Date(Fix.) ($/MT)
Average 2087.45
30-06-2015 1994
29-06-2015 2011
26-06-2015 2021
25-06-2015 2031
24-06-2015 2052
23-06-2015 2028
22-06-2015 2027.5
19-06-2015 2040
18-06-2015 2084.5
17-06-2015 2080
16-06-2015 2081.5
15-06-2015 2087
12-06-2015 2104
11-06-2015 2124
10-06-2015 2168.5
09-06-2015 2165
08-06-2015 2118.5
05-06-2015 2132
04-06-2015 2140.5
03-06-2015 2157.5
02-06-2015 2138
01-06-2015 2138.5
Tin
Date(Fix.) ($/MT)
Average 15015.23
30-06-2015 13980
29-06-2015 14375
26-06-2015 14750
25-06-2015 14750
24-06-2015 15200
23-06-2015 15180
22-06-2015 15175
19-06-2015 15180
18-06-2015 15025
17-06-2015 14625
16-06-2015 14530
15-06-2015 14430
12-06-2015 14900
11-06-2015 15100
10-06-2015 15350
09-06-2015 15420
08-06-2015 15300
05-06-2015 15250
04-06-2015 15435
03-06-2015 15450
02-06-2015 15530
01-06-2015 15400
Nickel
Date(Fix.) ($/MT)
Average 12779.77
30-06-2015 11680
29-06-2015 11715
26-06-2015 12495
25-06-2015 12585
24-06-2015 12780
23-06-2015 12665
22-06-2015 12590
19-06-2015 12600
18-06-2015 12860
17-06-2015 12850
16-06-2015 12775
15-06-2015 12735
12-06-2015 13065
11-06-2015 13465
10-06-2015 13575
09-06-2015 13530
08-06-2015 13095
05-06-2015 12865
04-06-2015 12840
03-06-2015 12940
02-06-2015 12910
01-06-2015 12540
Cobalt
Date(Fix.) ($/MT)
Average 30661.59
30-06-2015 33450
29-06-2015 30805
26-06-2015 30900
25-06-2015 30850
24-06-2015 30750
23-06-2015 30650
22-06-2015 30550
19-06-2015 30500
18-06-2015 30200
17-06-2015 30700
16-06-2015 30800
15-06-2015 30800
12-06-2015 30350
11-06-2015 30250
10-06-2015 30050
09-06-2015 30400
08-06-2015 30000
05-06-2015 30350
04-06-2015 30400
03-06-2015 30600
02-06-2015 30500
01-06-2015 30700