Monthly Metal Review

Overview

The International Monetary Fund said global economic recovery remains precarious. It predicted subpar 2016 global growth of 3.1 percent, rising only minimally in 2017. The IMF raised this year’s UK GDP-growth prediction to 1.8 percent, but cut 2017 to 1.1-percent growth. It cut the 2016 U.S. growth forecast from 2.2 percent to 1.6, offset by increases in Japan, Germany, Russia, and India. The fund said the Brexit vote and U.S. presidential campaign rhetoric showed fraying consensus in developed economies about cross-border economic integration. Despite long-term issues, China concerns eased somewhat on stable growth. The euro hit a 7-month low against the U.S. dollar in October after the European Central Bank (ECB) left its loose economic-recovery policy and key interest rate unchanged at zero percent. It left a door open to more stimuli in December. October business activity across the 19 Eurozone economies grew at its fastest pace this year, an IHS Market purchasing-managers’ survey of 5,000 companies showed. The index rose to 53.7 points, up from 52.6 on-month. The PMI increase was led by stronger momentum in Germany, whilst France saw a slowdown. Sterling, the British pound, had dropped nearly 20 percent against the dollar since June’s Brexit referendum, prompting Bank of England Governor Carney to say sterling's weakness will lead to inflation and higher UK prices, which he would tolerate. Microsoft is to increase its UK prices by as much as 22 percent because of sterling’s decline. The bank’s deputy governor said the central bank would not intervene to boost the pound's value. China’s economy grew at a better-than-expected annual 6.7-percent rate in the third quarter, marking the third consecutive 6.7-percent-growth quarter. But it heightened unease over puffed-up corporate debt and overheated property markets supported by expanded credit. The People’s Bank of China called in executives from major banks and demanded they rein in home loans to slow the properties boom. This followed other cooling measures in more than 20 Chinese cities, including raising down payments. New loans reached 948 billion yuan (U$141 billion) in August, more than double on-month. Results of the contentious U.S. presidential race should be available November 9, a day after voting. The direction of U.S. international trade, markets, and foreign policy likely hinge on the outcome. Despite a weaker renminbi, China’s September exports fell by an annualized 5.6 percent in renminbi terms; the first drop since February. Imports grew by 2.2 percent, down on-month from August’s 10.8 percent growth. the list to 516 from more than 1,000 projects proposed by local governments.

Daily Prices

October 2016

Copper
Date(Fix.) ($/MT)
Average 4732.14
31-10-2016 4827.5
28-10-2016 4787
27-10-2016 4774
26-10-2016 4717.5
25-10-2016 4720
24-10-2016 4620.5
21-10-2016 4637
20-10-2016 4633.5
19-10-2016 4642.5
18-10-2016 4665.5
17-10-2016 4671.5
14-10-2016 4672.5
13-10-2016 4754.5
12-10-2016 4805
11-10-2016 4801.5
10-10-2016 4786
07-10-2016 4742
06-10-2016 4742
05-10-2016 4777.5
04-10-2016 4790.5
03-10-2016 4807
Silver
Date(Fix.) ($/OZ)
Average 17.74
31-10-2016 17.76
28-10-2016 17.61
27-10-2016 17.66
26-10-2016 17.66
25-10-2016 17.73
24-10-2016 17.64
21-10-2016 17.51
20-10-2016 17.6
19-10-2016 17.69
18-10-2016 17.65
17-10-2016 17.4
14-10-2016 17.47
13-10-2016 17.59
12-10-2016 17.44
11-10-2016 17.48
10-10-2016 17.78
07-10-2016 17.33
06-10-2016 17.76
05-10-2016 17.8
04-10-2016 18.74
03-10-2016 19.18
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1268.93
31-10-2016 1274.2
28-10-2016 1265.9
27-10-2016 1269.3
26-10-2016 1273.9
25-10-2016 1269.3
24-10-2016 1267
21-10-2016 1263.95
20-10-2016 1269.2
19-10-2016 1269.75
18-10-2016 1261.65
17-10-2016 1252.7
14-10-2016 1256.15
13-10-2016 1258
12-10-2016 1255.7
11-10-2016 1256.4
10-10-2016 1262.1
07-10-2016 1255
06-10-2016 1265.5
05-10-2016 1274
04-10-2016 1309.15
03-10-2016 1318.65
Date(Fix.) ($/OZ)
Average 1267.75
31-10-2016 1273.1
28-10-2016 1269.45
27-10-2016 1267.775
26-10-2016 1272.2
25-10-2016 1269.35
24-10-2016 1266.275
21-10-2016 1265
20-10-2016 1270.425
19-10-2016 1269.4
18-10-2016 1259.925
17-10-2016 1253.75
14-10-2016 1253.95
13-10-2016 1259.525
12-10-2016 1256.1
11-10-2016 1254.925
10-10-2016 1260.8
07-10-2016 1256.875
06-10-2016 1260
05-10-2016 1271.7
04-10-2016 1296.225
03-10-2016 1315.975
Date(Fix.) ($/OZ)
Average 1266.57
31-10-2016 1272
28-10-2016 1273
27-10-2016 1266.25
26-10-2016 1270.5
25-10-2016 1269.4
24-10-2016 1265.55
21-10-2016 1266.05
20-10-2016 1271.65
19-10-2016 1269.05
18-10-2016 1258.2
17-10-2016 1254.8
14-10-2016 1251.75
13-10-2016 1261.05
12-10-2016 1256.5
11-10-2016 1253.45
10-10-2016 1259.5
07-10-2016 1258.75
06-10-2016 1254.5
05-10-2016 1269.4
04-10-2016 1283.3
03-10-2016 1313.3
Lead
Date(Fix.) ($/MT)
Average 2039.93
31-10-2016 2065.5
28-10-2016 2048
27-10-2016 2063.5
26-10-2016 2058
25-10-2016 2069
24-10-2016 2010
21-10-2016 2010
20-10-2016 2004.5
19-10-2016 1965
18-10-2016 1995
17-10-2016 1986.5
14-10-2016 1991.5
13-10-2016 2013
12-10-2016 2041
11-10-2016 2066
10-10-2016 2095
07-10-2016 2079
06-10-2016 2045
05-10-2016 2060
04-10-2016 2099
03-10-2016 2074
Zinc
Date(Fix.) ($/MT)
Average 2314.14
31-10-2016 2418.5
28-10-2016 2374
27-10-2016 2351
26-10-2016 2339.5
25-10-2016 2358
24-10-2016 2291
21-10-2016 2249
20-10-2016 2281
19-10-2016 2270
18-10-2016 2295.5
17-10-2016 2260.5
14-10-2016 2232.5
13-10-2016 2230
12-10-2016 2260
11-10-2016 2265.5
10-10-2016 2323.5
07-10-2016 2325.5
06-10-2016 2327.5
05-10-2016 2371
04-10-2016 2404
03-10-2016 2369.5
Tin
Date(Fix.) ($/MT)
Average 20182.38
31-10-2016 21000
28-10-2016 20875
27-10-2016 20800
26-10-2016 20700
25-10-2016 20490
24-10-2016 20245
21-10-2016 20150
20-10-2016 20025
19-10-2016 20000
18-10-2016 19855
17-10-2016 19510
14-10-2016 19575
13-10-2016 19700
12-10-2016 20000
11-10-2016 20005
10-10-2016 20120
07-10-2016 20175
06-10-2016 20200
05-10-2016 19930
04-10-2016 20200
03-10-2016 20275
Nickel
Date(Fix.) ($/MT)
Average 10266.43
31-10-2016 10550
28-10-2016 10340
27-10-2016 10265
26-10-2016 10150
25-10-2016 10255
24-10-2016 10020
21-10-2016 9995
20-10-2016 10165
19-10-2016 10280
18-10-2016 10335
17-10-2016 10400
14-10-2016 10435
13-10-2016 10415
12-10-2016 10575
11-10-2016 10415
10-10-2016 10305
07-10-2016 10260
06-10-2016 10120
05-10-2016 9970
04-10-2016 10155
03-10-2016 10190
Cobalt
Date(Fix.) ($/MT)
Average 28395.48
31-10-2016 28800
28-10-2016 28500
27-10-2016 28750
26-10-2016 28400
25-10-2016 28900
24-10-2016 28750
21-10-2016 28100
20-10-2016 28500
19-10-2016 28300
18-10-2016 28500
17-10-2016 28005
14-10-2016 28300
13-10-2016 28300
12-10-2016 28500
11-10-2016 28500
10-10-2016 29000
07-10-2016 28500
06-10-2016 28500
05-10-2016 27900
04-10-2016 28000
03-10-2016 27300