Monthly Metal Review

Overview

The U.S. reported 151,000 new jobs created in August, less than some expected but not strong enough to cause the Federal Reserve to raise its benchmark interest rate in September to cool overheat-ing. But it signaled a hike by 2017. The monthly job gains marked the 71st consecutive month of positive jobs numbers. U.S. factory orders rose by 1.9 percent in July, the best in 9 months. China returned from the Mid-Autumn Festival holiday to upbeat readings. Business confidence among entrepreneurs picked up for the second con-secutive quarter, whilst average new-home prices in China's 70 major cities rose 9.2 per cent in August. Higher property prices could prompt Beijing to move to avert a housing-market bubble, analysts said. Boom-ing construction was a major factor in buoyant metal demand and higher metal prices. Opec, the oil-producers’ cartel, forecast an oil-supply glut well into 2017 as new production streams and output from a resilient U.S. shale-oil industry keep a lid on prices. And the International Energy Agency said growth in global oil demand is faltering whilst production is stabilizing, supporting a global surplus of petroleum and petroleum products through much of next year. China’s Ministry of Finance reportedly selected some 1 trillion yuan (US$150 billion) worth of new public-private-partnership projects. The list will be an-nounced after final approvals. Officials narrowed the list to 516 from more than 1,000 projects proposed by local governments. More than 17 protestors were killed in mineral-rich Democratic Republic of Congo during demon-strations against President Joseph Kabila’s apparent bid to remain power after his term ends. The U.S. and France threatened to impose sanctions on senior DRC officials. Thousands demonstrated in Kinshasa, Goma and Kisangani. Eurozone employment rose 0.4 percent on-quarter and 1.4 percent on-year in the second quarter, the EU's statistics office reported. It estimated that a record-high 232.1 million people had a job in the EU in the second quarter. Mining production in South Africa fell by 5.4 percent on-month in July, the national statistical ser-vice said. The fall was attributed to a dispute between labor unions, a 9.6-percent PMG drop, and a strong fall in manganese ore. The head of metals research at Paris-based So-ciete Generale said that, based on high inventories, nickel has limited short-term growth potential. But he predicted that zinc could see further gains of perhaps some 20 percent in a tighter market during the next six to twelve months.

Daily Prices

September 2016

Copper
Date(Fix.) ($/MT)
Average 4707.18
30-09-2016 4832
29-09-2016 4816.5
28-09-2016 4807.5
27-09-2016 4775
26-09-2016 4794
23-09-2016 4815
22-09-2016 4815.5
21-09-2016 4733
20-09-2016 4732.5
19-09-2016 4731.5
16-09-2016 4733.5
15-09-2016 4727
14-09-2016 4694.5
13-09-2016 4641.5
12-09-2016 4573
09-09-2016 4622.5
08-09-2016 4617.5
07-09-2016 4643
06-09-2016 4623
05-09-2016 4603
02-09-2016 4607
01-09-2016 4620
Silver
Date(Fix.) ($/OZ)
Average 19.29
30-09-2016 19.35
29-09-2016 19.01
28-09-2016 19.12
27-09-2016 19.42
26-09-2016 19.44
23-09-2016 19.82
22-09-2016 19.88
21-09-2016 19.43
20-09-2016 19.17
19-09-2016 19.12
16-09-2016 18.91
15-09-2016 18.96
14-09-2016 19.04
13-09-2016 19.16
12-09-2016 18.72
09-09-2016 19.41
08-09-2016 19.93
07-09-2016 19.92
06-09-2016 19.6
05-09-2016 19.46
02-09-2016 18.75
01-09-2016 18.65
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1326.62
30-09-2016 1327.9
29-09-2016 1320.85
28-09-2016 1324.8
27-09-2016 1335.85
26-09-2016 1336.3
23-09-2016 1335.9
22-09-2016 1332.45
21-09-2016 1319.6
20-09-2016 1315.4
19-09-2016 1315.05
16-09-2016 1314.25
15-09-2016 1320.1
14-09-2016 1323.2
13-09-2016 1328.5
12-09-2016 1327.5
09-09-2016 1335.65
08-09-2016 1348
07-09-2016 1348.75
06-09-2016 1330.05
05-09-2016 1328.3
02-09-2016 1311.5
01-09-2016 1305.7
Date(Fix.) ($/OZ)
Average 1326.32
30-09-2016 1325.2
29-09-2016 1319.475
28-09-2016 1323.65
27-09-2016 1331.425
26-09-2016 1338.4
23-09-2016 1337.275
22-09-2016 1335.775
21-09-2016 1322.85
20-09-2016 1314.6
19-09-2016 1314.95
16-09-2016 1311.3
15-09-2016 1315.45
14-09-2016 1322.475
13-09-2016 1326.075
12-09-2016 1326.05
09-09-2016 1333.25
08-09-2016 1345.7
07-09-2016 1348.55
06-09-2016 1333.65
05-09-2016 1327.325
02-09-2016 1318.1
01-09-2016 1307.6
Date(Fix.) ($/OZ)
Average 1326.03
30-09-2016 1322.5
29-09-2016 1318.1
28-09-2016 1322.5
27-09-2016 1327
26-09-2016 1340.5
23-09-2016 1338.65
22-09-2016 1339.1
21-09-2016 1326.1
20-09-2016 1313.8
19-09-2016 1314.85
16-09-2016 1308.35
15-09-2016 1310.8
14-09-2016 1321.75
13-09-2016 1323.65
12-09-2016 1324.6
09-09-2016 1330.85
08-09-2016 1343.4
07-09-2016 1348.35
06-09-2016 1337.25
05-09-2016 1326.35
02-09-2016 1324.7
01-09-2016 1309.5
Lead
Date(Fix.) ($/MT)
Average 1942.02
30-09-2016 2105.5
29-09-2016 2035.5
28-09-2016 1987
27-09-2016 1962.5
26-09-2016 1907
23-09-2016 1912
22-09-2016 1951
21-09-2016 1956
20-09-2016 1953.5
19-09-2016 1937
16-09-2016 1936
15-09-2016 1936
14-09-2016 1904
13-09-2016 1903
12-09-2016 1864
09-09-2016 1896.5
08-09-2016 1888
07-09-2016 1926.5
06-09-2016 1950.5
05-09-2016 1959
02-09-2016 1940
01-09-2016 1914
Zinc
Date(Fix.) ($/MT)
Average 2292.80
30-09-2016 2378
29-09-2016 2354
28-09-2016 2313
27-09-2016 2321
26-09-2016 2248.5
23-09-2016 2271.5
22-09-2016 2294.5
21-09-2016 2278.5
20-09-2016 2274
19-09-2016 2215.5
16-09-2016 2203
15-09-2016 2246
14-09-2016 2232
13-09-2016 2260
12-09-2016 2250
09-09-2016 2290.5
08-09-2016 2300
07-09-2016 2334
06-09-2016 2335.5
05-09-2016 2363.5
02-09-2016 2348.5
01-09-2016 2330
Tin
Date(Fix.) ($/MT)
Average 19589.77
30-09-2016 20295
29-09-2016 20100
28-09-2016 19950
27-09-2016 19975
26-09-2016 19800
23-09-2016 19725
22-09-2016 19600
21-09-2016 19470
20-09-2016 19500
19-09-2016 19395
16-09-2016 19125
15-09-2016 19400
14-09-2016 19270
13-09-2016 19275
12-09-2016 19205
09-09-2016 19600
08-09-2016 19675
07-09-2016 19675
06-09-2016 19900
05-09-2016 19595
02-09-2016 19300
01-09-2016 19145
Nickel
Date(Fix.) ($/MT)
Average 10188.41
30-09-2016 10460
29-09-2016 10530
28-09-2016 10615
27-09-2016 10760
26-09-2016 10450
23-09-2016 10625
22-09-2016 10545
21-09-2016 10315
20-09-2016 10195
19-09-2016 9920
16-09-2016 9650
15-09-2016 9745
14-09-2016 9770
13-09-2016 10015
12-09-2016 10025
09-09-2016 10340
08-09-2016 10310
07-09-2016 10135
06-09-2016 10060
05-09-2016 10050
02-09-2016 9880
01-09-2016 9750
Cobalt
Date(Fix.) ($/MT)
Average 26807.27
30-09-2016 27750
29-09-2016 27300
28-09-2016 27500
27-09-2016 27500
26-09-2016 27500
23-09-2016 27500
22-09-2016 26950
21-09-2016 27250
20-09-2016 27000
19-09-2016 27000
16-09-2016 27000
15-09-2016 27000
14-09-2016 27000
13-09-2016 27000
12-09-2016 27000
09-09-2016 26000
08-09-2016 26500
07-09-2016 26000
06-09-2016 25510
05-09-2016 26000
02-09-2016 26000
01-09-2016 25500