Monthly Metal Review

Lead and Zinc

In London, the Lead cash settlement price increased to US$ 2,531.0 per tonne while the Zinc cash settlement price rose to US$ 2,221.5 per ton on the 28th of April 2011.

It has been reported in April that as much as 50,000 tonnes of lead could soon enter London Metal Ex-change-bonded warehouses in Port Klang. The back-wardation has flared out recently and that gives an incen-tive to deliver against short positions.

In Australia, Terramine has said that it and the gov-ernment joint venture partners in Western Mediterranean Zinc had agreed to meet in early May to consider a deci-sion to mine the TalaHamza deposit at the OuedAmizour project in Algeria. The company plans to complete a feasibility study by the end of April. TalaHamza pos-sesses probable reserves of 38.1 tonnes grading 4.78% of zinc and 1.36% of lead. Terrramin anticipates processing 4 tonnes per year of ore at full production and producing 310,000 tonnes per annum of zinc concentrate (grading 53% zinc) and 60,000 tonnes per year of lead concentrate (grading 61% lead). If a decision to proceed is made soon, first production could conceivably begin in 2016.

In Japan Mitsubishi Materials is planning to raise re-fined lead output to 2,420 tonnes per month in the first six months of the current fiscal year (April-September 2011), up 16% year-on-year from the 2,095 tonnes per month produced in the same six months of a year ago (April-September 2010). The rise is mainly in response to a pick-up in lead demand from the lead-acid battery sector due to higher sales for emergency back-up power. Mitsubishi has resumed operations at its 22,000 tonnes per year refined lead capacity Hosokura secondary lead-plant in Miyagi.

It has beenhas reported that Dowa Mining has said that it resumed operations at its 200,000 tonnes per year Akita (Iijima) zinc smelter on the 6th of April.

Bass Metals has reported its first concentrate produc-tion at its Hellyer operation in Tasmania. It processed 40,917 tonnes of ore and produced 2,501 tonnes of zinc concentrate grading 48% zinc, 761 tonnes of lead con-centrate grading 52% lead, and 148 tonnes of its copper-precious metal concentrate. Hellyer will produce 25,000 tonnes of zinc and 10,000 tonnes of lead in concentrate at full production.

LME Lead stocks rose to 463,800 tonnes and zinc stocks to 821,850 tonnes.

Daily Prices

April 2011

Copper
Date(Fix.) ($/MT)
Average 9483.25
28-04-2011 9370.5
27-04-2011 9348.5
26-04-2011 9455.5
21-04-2011 9611
20-04-2011 9450.5
19-04-2011 9279
18-04-2011 9356.5
15-04-2011 9420
14-04-2011 9326.5
13-04-2011 9625.5
12-04-2011 9670.5
11-04-2011 9781.5
08-04-2011 9823
07-04-2011 9697
06-04-2011 9475.5
05-04-2011 9251.5
04-04-2011 9420
01-04-2011 9336
Silver
Date(Fix.) ($/OZ)
Average 41.97
28-04-2011 48.7
27-04-2011 45.3
26-04-2011 45.48
21-04-2011 46.26
20-04-2011 44.79
19-04-2011 43.22
18-04-2011 42.79
15-04-2011 42.61
14-04-2011 40.67
13-04-2011 40.22
12-04-2011 40.44
11-04-2011 41.37
08-04-2011 40.22
07-04-2011 39.51
06-04-2011 39.63
05-04-2011 38.08
04-04-2011 38.46
01-04-2011 37.63
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
28-04-2011 -
27-04-2011 -
26-04-2011 -
21-04-2011 -
20-04-2011 -
19-04-2011 -
18-04-2011 -
15-04-2011 -
14-04-2011 -
13-04-2011 -
12-04-2011 -
11-04-2011 -
08-04-2011 -
07-04-2011 -
06-04-2011 -
05-04-2011 -
04-04-2011 -
01-04-2011 -
Date(Fix.) ($/OZ)
Average -
28-04-2011 -
27-04-2011 -
26-04-2011 -
21-04-2011 -
20-04-2011 -
19-04-2011 -
18-04-2011 -
15-04-2011 -
14-04-2011 -
13-04-2011 -
12-04-2011 -
11-04-2011 -
08-04-2011 -
07-04-2011 -
06-04-2011 -
05-04-2011 -
04-04-2011 -
01-04-2011 -
Date(Fix.) ($/OZ)
Average 1473.81
28-04-2011 1535.5
27-04-2011 1511
26-04-2011 1497.5
21-04-2011 1504
20-04-2011 1501
19-04-2011 1490.5
18-04-2011 1493
15-04-2011 1476.75
14-04-2011 1465.75
13-04-2011 1457.5
12-04-2011 1450.5
11-04-2011 1468
08-04-2011 1469.5
07-04-2011 1459.5
06-04-2011 1461.5
05-04-2011 1433.5
04-04-2011 1435.5
01-04-2011 1418
Lead
Date(Fix.) ($/MT)
Average 2741.14
28-04-2011 2531
27-04-2011 2580
26-04-2011 2582.5
21-04-2011 2670
20-04-2011 2661
19-04-2011 2598
18-04-2011 2720
15-04-2011 2732
14-04-2011 2683
13-04-2011 2817.5
12-04-2011 2880
11-04-2011 2939
08-04-2011 2905
07-04-2011 2878
06-04-2011 2815
05-04-2011 2778
04-04-2011 2840
01-04-2011 2730.5
Zinc
Date(Fix.) ($/MT)
Average 2372.39
28-04-2011 2221.5
27-04-2011 2232.5
26-04-2011 2258
21-04-2011 2336.5
20-04-2011 2334
19-04-2011 2316
18-04-2011 2374
15-04-2011 2387
14-04-2011 2375
13-04-2011 2446
12-04-2011 2465.5
11-04-2011 2496
08-04-2011 2480
07-04-2011 2441
06-04-2011 2399
05-04-2011 2391.5
04-04-2011 2408.5
01-04-2011 2341
Tin
Date(Fix.) ($/MT)
Average 32460.56
28-04-2011 32275
27-04-2011 32195
26-04-2011 32450
21-04-2011 32675
20-04-2011 32825
19-04-2011 32600
18-04-2011 33000
15-04-2011 32900
14-04-2011 32350
13-04-2011 32650
12-04-2011 33000
11-04-2011 33255
08-04-2011 33005
07-04-2011 32625
06-04-2011 31930
05-04-2011 31500
04-04-2011 31700
01-04-2011 31355