Monthly Metal Review

Overview

The London Metal Exchange now accepts the renminbi, China’s currency, as cash collateral against trades. The LME move came after Bank of England approval and reflects the increasing in Chinese firms trading there. The exchange already accepted sterling, the U.S. dollar, euro and yen.
Russia claimed ownership of more than 460,000 square miles of the warming Arctic Ocean, including rights to mineral reserves. Norway and Denmark are submitting claims to the U.N. to extend their Arctic jurisdiction.
Peru’s government refused to weaken envi-ronmental standards at the troubled La Oroya smelter after violent mineworker protests. Miners said envi-ronmental rules discouraged bidding in an auction of bankrupt Doe Run Peru’s smelter. They want emis-sion standards to match Chile’s, allowing three times as much sulfur dioxide per cubic meter. Peru’s envi-ronment minister said Lima won’t ease regulations in one of the world’s most polluted places. Relaxing limits would also expose Peru to over US$500 million in an international lawsuit with Doe Run.
The global oil oversupply should continue into at least late next year, the International Energy Agen-cy reported. Rapidly-growing supplies outpaced sec-ond-quarter consumption by 3 million barrels daily as cheap oil boosted demand.
A late-August global market selloff, based largely on fears China’s economy is fading, threatened
a once-likely mid-September U.S. Federal Reserve interest-rate hike. China’s first-half economy had grown at the slowest pace in a quarter century. The heated Shanghai stock market plunged and a worried Beijing ordered the biggest currency devaluation in over 20 years, staggering markets and sparking a global selloff. When China then cut interest rates and banks’ reserve-rate requirements, it flooded its markets with liquidity. Most international exchanges bounced back some from the three-day rout, but China and Japan lagged.
Eurozone finance ministers approved a third Greek bailout granting Athens as much as US$95 billion over the next three years. The plan was ap-proved by Greek lawmakers and the German Par-liament. The mid-August decision also offers Greece a longer-term approach to financing its staggering debt, now exceeding €315 billion.
Spain and Ireland, hard-hit by the global fi-nancial crisis, are now the fastest-growing countries in the eurozone. With austerity ending, record spending by foreign tourists helped Spain to its fast-est growth quarter since 2007. Ireland’s economy returned to pre-crisis size and grew at six times the rate of the wider eurozone. The IMF expects Spain’s 2015 economy to grow by 3.1 percent and Ireland’s by 4 percent.

Daily Prices

August 2015

Copper
Date(Fix.) ($/MT)
Average 5088.93
28-08-2015 5095
27-08-2015 5029
26-08-2015 4959
25-08-2015 5032
24-08-2015 4888
21-08-2015 5046
20-08-2015 5060.5
19-08-2015 5006.5
18-08-2015 5000.5
17-08-2015 5101
14-08-2015 5156
13-08-2015 5148
12-08-2015 5103
11-08-2015 5140
10-08-2015 5150
07-08-2015 5135.5
06-08-2015 5165
05-08-2015 5171.5
04-08-2015 5215.5
03-08-2015 5176.5
Silver
Date(Fix.) ($/OZ)
Average 14.94
28-08-2015 14.44
27-08-2015 14.27
26-08-2015 14.41
25-08-2015 14.87
24-08-2015 14.94
21-08-2015 15.46
20-08-2015 15.5
19-08-2015 14.84
18-08-2015 15.23
17-08-2015 15.23
14-08-2015 15.55
13-08-2015 15.33
12-08-2015 15.36
11-08-2015 15.31
10-08-2015 14.88
07-08-2015 14.75
06-08-2015 14.59
05-08-2015 14.52
04-08-2015 14.54
03-08-2015 14.73
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1117.53
28-08-2015 1125.5
27-08-2015 1128.5
26-08-2015 1134.4
25-08-2015 1154.25
24-08-2015 1153.5
21-08-2015 1149.35
20-08-2015 1137.95
19-08-2015 1123.2
18-08-2015 1119.15
17-08-2015 1117.3
14-08-2015 1116.75
13-08-2015 1117.35
12-08-2015 1116.8
11-08-2015 1113.25
10-08-2015 1094.8
07-08-2015 1091.35
06-08-2015 1085
05-08-2015 1086.5
04-08-2015 1092.6
03-08-2015 1093
Date(Fix.) ($/OZ)
Average 1117.50
28-08-2015 1130.25
27-08-2015 1123.75
26-08-2015 1127.575
25-08-2015 1145.875
24-08-2015 1160
21-08-2015 1152.925
20-08-2015 1142.825
19-08-2015 1124.675
18-08-2015 1115.3
17-08-2015 1118.05
14-08-2015 1117.5
13-08-2015 1117.05
12-08-2015 1117.9
11-08-2015 1110.75
10-08-2015 1095.9
07-08-2015 1092.425
06-08-2015 1087.375
05-08-2015 1085.8
04-08-2015 1091.625
03-08-2015 1092.45
Date(Fix.) ($/OZ)
Average 1117.48
28-08-2015 1135
27-08-2015 1119
26-08-2015 1120.75
25-08-2015 1137.5
24-08-2015 1166.5
21-08-2015 1156.5
20-08-2015 1147.7
19-08-2015 1126.15
18-08-2015 1111.45
17-08-2015 1118.8
14-08-2015 1118.25
13-08-2015 1116.75
12-08-2015 1119
11-08-2015 1108.25
10-08-2015 1097
07-08-2015 1093.5
06-08-2015 1089.75
05-08-2015 1085.1
04-08-2015 1090.65
03-08-2015 1091.9
Lead
Date(Fix.) ($/MT)
Average 1692.90
28-08-2015 1677
27-08-2015 1652.5
26-08-2015 1641
25-08-2015 1677.5
24-08-2015 1628
21-08-2015 1693
20-08-2015 1706.5
19-08-2015 1694
18-08-2015 1678
17-08-2015 1716
14-08-2015 1738
13-08-2015 1720
12-08-2015 1708
11-08-2015 1719
10-08-2015 1711
07-08-2015 1685.5
06-08-2015 1705.5
05-08-2015 1710.5
04-08-2015 1716
03-08-2015 1681
Zinc
Date(Fix.) ($/MT)
Average 1809.93
28-08-2015 1793
27-08-2015 1726
26-08-2015 1687.5
25-08-2015 1744.5
24-08-2015 1708.5
21-08-2015 1771.5
20-08-2015 1813
19-08-2015 1776
18-08-2015 1773.5
17-08-2015 1808.5
14-08-2015 1843.5
13-08-2015 1821
12-08-2015 1809
11-08-2015 1832
10-08-2015 1862.5
07-08-2015 1847
06-08-2015 1876.5
05-08-2015 1888
04-08-2015 1926
03-08-2015 1891
Tin
Date(Fix.) ($/MT)
Average 15228.50
28-08-2015 14360
27-08-2015 13895
26-08-2015 14100
25-08-2015 14500
24-08-2015 14595
21-08-2015 15190
20-08-2015 15750
19-08-2015 15700
18-08-2015 16250
17-08-2015 15650
14-08-2015 15505
13-08-2015 15150
12-08-2015 15165
11-08-2015 15360
10-08-2015 15175
07-08-2015 15275
06-08-2015 15500
05-08-2015 15300
04-08-2015 16150
03-08-2015 16000
Nickel
Date(Fix.) ($/MT)
Average 10342.25
28-08-2015 9835
27-08-2015 9730
26-08-2015 9475
25-08-2015 9670
24-08-2015 9305
21-08-2015 10110
20-08-2015 10390
19-08-2015 10330
18-08-2015 10305
17-08-2015 10560
14-08-2015 10500
13-08-2015 10520
12-08-2015 10460
11-08-2015 10700
10-08-2015 10935
07-08-2015 10800
06-08-2015 10820
05-08-2015 10790
04-08-2015 10835
03-08-2015 10775
Cobalt
Date(Fix.) ($/MT)
Average 29487.75
28-08-2015 28400
27-08-2015 28750
26-08-2015 28750
25-08-2015 28750
24-08-2015 28750
21-08-2015 28750
20-08-2015 28750
19-08-2015 28750
18-08-2015 28500
17-08-2015 28105
14-08-2015 30100
13-08-2015 30100
12-08-2015 30500
11-08-2015 30100
10-08-2015 30100
07-08-2015 30100
06-08-2015 30300
05-08-2015 30700
04-08-2015 30750
03-08-2015 30750