Monthly Metal Review

Overview

China's economy grew by 6.7 percent in 2016, down from 6.9 percent in 2015, according to official data. This marks China’s slowest growth since 1990, but was in line with Beijing's growth target of 6.5 to 7 percent expansion. The Eurozone’s inflation rate reached a three-year high of 1.1 percent in December. European Cen-tral Bank Governor Mario Draghi, however, said he saw no convincing signs of rising prices. The ECB left interest rates and its bond-buying stimulus program unchanged. In the U.S., Federal Reserve Chair Janet Yellen said she expects the Fed to tighten monetary policy by raising interest rates a few times each year until 2019 , She said the U.S. economy is now on solid ground but faces long-term risks from slow productivity growth and an expanding income gap. She defended the soundness of the financial system, bolstered by the 2010 Dodd-Frank Act. The IMF maintained its global-growth forecast at 3.4 percent in 2017 and 3.6 percent in 2018, but indi-cated that more trade barriers, tariffs and border taxes could scuttle forecasts. The new U.S. President has threatened new tariffs on goods from China and Mex-ico. The IMF upped its 2017 China economic-growth forecast to 6.5 percent from a previous 6.2 percent on expectations of continued policy stimulus. Indonesia eased its ban on exporting partially-processed minerals, including nickel, bauxite and other mineral concentrates under certain conditions. It extended a deal allowing copper-concentrate export. Nickel-ore exports, however, were capped at some 10 percent of pre-ban levels. New legislation allows long-er permit-to-work extensions, which may be applied for up to five years before expiry. The ban was in-tended to force miners to build on-shore smelters but dented government revenue. Miners now must show progress toward building smelters within five years. They eventually will have to use at least 30 percent of smelter capacity to process low-grade ore. The International Energy Agency forecast an end to the global crude-oil glut, starting in this year’s first half, if OPEC and its partners fully adhere to their six-month production-cut agreement. OPEC agreed in November to cut oil output by 1.2 million barrels per day (bpd) to 32.5 million from January 1. German Chancellor Angela Merkel called for closer military cooperation among European Union members in light of distancing by the new U.S. presi-dent and pending UK withdrawal from the EU. Merkel said it would be naive to always rely on others.

Daily Prices

January 2017

Copper
Date(Fix.) ($/MT)
Average 5737.43
31-01-2017 5921
30-01-2017 5857
27-01-2017 5847
26-01-2017 5890
25-01-2017 5867
24-01-2017 5879
23-01-2017 5775
20-01-2017 5706
19-01-2017 5710
18-01-2017 5721
17-01-2017 5771.5
16-01-2017 5857
13-01-2017 5797
12-01-2017 5752.5
11-01-2017 5709.5
10-01-2017 5642
09-01-2017 5551.5
06-01-2017 5546.5
05-01-2017 5611
04-01-2017 5500.5
03-01-2017 5574
Silver
Date(Fix.) ($/OZ)
Average 16.81
31-01-2017 17.29
30-01-2017 17.1
27-01-2017 16.7
26-01-2017 16.86
25-01-2017 16.93
24-01-2017 17.105
23-01-2017 17.14
20-01-2017 16.89
19-01-2017 16.95
18-01-2017 17.12
17-01-2017 17
16-01-2017 16.82
13-01-2017 16.76
12-01-2017 16.91
11-01-2017 16.79
10-01-2017 16.665
09-01-2017 16.52
06-01-2017 16.45
05-01-2017 16.59
04-01-2017 16.42
03-01-2017 15.95
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1192.65
31-01-2017 1198.8
30-01-2017 1189.85
27-01-2017 1184.2
26-01-2017 1191.55
25-01-2017 1203.5
24-01-2017 1213.3
23-01-2017 1213.75
20-01-2017 1199.1
19-01-2017 1203.35
18-01-2017 1212.5
17-01-2017 1217.5
16-01-2017 1202.75
13-01-2017 1196.35
12-01-2017 1206.65
11-01-2017 1187.55
10-01-2017 1183.2
09-01-2017 1176.1
06-01-2017 1178
05-01-2017 1173.05
04-01-2017 1165.9
03-01-2017 1148.65
Date(Fix.) ($/OZ)
Average 1192.63
31-01-2017 1205.8
30-01-2017 1191.325
27-01-2017 1184.525
26-01-2017 1190.625
25-01-2017 1199.25
24-01-2017 1215.05
23-01-2017 1213.3
20-01-2017 1199.825
19-01-2017 1199.7
18-01-2017 1213.625
17-01-2017 1216.775
16-01-2017 1202.875
13-01-2017 1193.35
12-01-2017 1205.85
11-01-2017 1183.05
10-01-2017 1186.35
09-01-2017 1177.3
06-01-2017 1176.925
05-01-2017 1174.875
04-01-2017 1165.075
03-01-2017 1149.825
Date(Fix.) ($/OZ)
Average 1192.62
31-01-2017 1212.8
30-01-2017 1192.8
27-01-2017 1184.85
26-01-2017 1189.7
25-01-2017 1195
24-01-2017 1216.8
23-01-2017 1212.85
20-01-2017 1200.55
19-01-2017 1196.05
18-01-2017 1214.75
17-01-2017 1216.05
16-01-2017 1203
13-01-2017 1190.35
12-01-2017 1205.05
11-01-2017 1178.55
10-01-2017 1189.5
09-01-2017 1178.5
06-01-2017 1175.85
05-01-2017 1176.7
04-01-2017 1164.25
03-01-2017 1151
Lead
Date(Fix.) ($/MT)
Average 2236.69
31-01-2017 2355
30-01-2017 2320
27-01-2017 2365
26-01-2017 2390
25-01-2017 2379
24-01-2017 2390
23-01-2017 2350.5
20-01-2017 2309
19-01-2017 2315
18-01-2017 2303.5
17-01-2017 2268
16-01-2017 2315.5
13-01-2017 2221
12-01-2017 2190
11-01-2017 2165
10-01-2017 2143.5
09-01-2017 2060
06-01-2017 2041
05-01-2017 2056
04-01-2017 2026.5
03-01-2017 2007
Zinc
Date(Fix.) ($/MT)
Average 2713.00
31-01-2017 2848
30-01-2017 2768.5
27-01-2017 2762
26-01-2017 2814.5
25-01-2017 2774
24-01-2017 2797
23-01-2017 2782
20-01-2017 2736.5
19-01-2017 2758.5
18-01-2017 2724
17-01-2017 2694
16-01-2017 2765.5
13-01-2017 2720
12-01-2017 2725
11-01-2017 2690
10-01-2017 2733
09-01-2017 2611
06-01-2017 2578.5
05-01-2017 2608.5
04-01-2017 2530
03-01-2017 2552.5
Tin
Date(Fix.) ($/MT)
Average 20749.76
31-01-2017 20080
30-01-2017 19700
27-01-2017 19975
26-01-2017 20180
25-01-2017 20450
24-01-2017 20180
23-01-2017 19875
20-01-2017 20200
19-01-2017 21075
18-01-2017 21125
17-01-2017 21015
16-01-2017 21125
13-01-2017 21175
12-01-2017 21105
11-01-2017 21150
10-01-2017 21280
09-01-2017 21150
06-01-2017 21175
05-01-2017 21250
04-01-2017 21180
03-01-2017 21300
Nickel
Date(Fix.) ($/MT)
Average 9984.29
31-01-2017 9890
30-01-2017 9495
27-01-2017 9380
26-01-2017 9565
25-01-2017 9635
24-01-2017 9765
23-01-2017 9770
20-01-2017 9735
19-01-2017 10050
18-01-2017 10160
17-01-2017 10175
16-01-2017 10235
13-01-2017 10115
12-01-2017 9975
11-01-2017 10450
10-01-2017 10435
09-01-2017 10245
06-01-2017 10185
05-01-2017 10230
04-01-2017 9975
03-01-2017 10205
Cobalt
Date(Fix.) ($/MT)
Average 34961.90
31-01-2017 37250
30-01-2017 37250
27-01-2017 37250
26-01-2017 36750
25-01-2017 36250
24-01-2017 36250
23-01-2017 36000
20-01-2017 36000
19-01-2017 35500
18-01-2017 35500
17-01-2017 35250
16-01-2017 35000
13-01-2017 34700
12-01-2017 33600
11-01-2017 33400
10-01-2017 33250
09-01-2017 33000
06-01-2017 33000
05-01-2017 33000
04-01-2017 33000
03-01-2017 33000