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Prices & Review

Daily price | 2020-03

Copper

Date(Fix.)($/MT) Average5241.95 2020-03-264775.5 2020-03-254754 2020-03-244789.5 2020-03-234617.5 2020-03-204855 2020-03-194685 2020-03-184860.5 2020-03-175205 2020-03-165211 2020-03-135530.5 2020-03-125386.5 2020-03-115552 2020-03-105598 2020-03-095483 2020-03-065624 2020-03-055667.5 2020-03-045694.5 2020-03-035668 2020-03-025640

Lead

Date(Fix.)($/MT) Average1751.89 2020-03-261659 2020-03-251589 2020-03-241617 2020-03-231608.5 2020-03-201673.5 2020-03-191661 2020-03-181616 2020-03-171693 2020-03-161685 2020-03-131781 2020-03-121749 2020-03-111813 2020-03-101859.5 2020-03-091849.5 2020-03-061880 2020-03-051860 2020-03-041887 2020-03-031900 2020-03-021905

Nickel

Date(Fix.)($/MT) Average11971.89 2020-03-2611221 2020-03-2511175 2020-03-2411075 2020-03-2311055 2020-03-2011370 2020-03-1911235 2020-03-1811420 2020-03-1711830 2020-03-1611775 2020-03-1312565 2020-03-1211855 2020-03-1112435 2020-03-1012835 2020-03-0912415 2020-03-0612710 2020-03-0512800 2020-03-0412700 2020-03-0312555 2020-03-0212440

Gold

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 1590.13 1589.22 1588.31 2020-03-26 1620.1 1627.45 1634.8 2020-03-25 1620.95 1613.2 1605.45 2020-03-24 1599.5 1602.63 1605.75 2020-03-23 1494.5 1509.95 1525.4 2020-03-20 1504.45 1499.43 1494.4 2020-03-19 1480.7 1477.48 1474.25 2020-03-18 1506 1502.1 1498.2 2020-03-17 1472.35 1504.28 1536.2 2020-03-16 1504.65 1496.18 1487.7 2020-03-13 1588.15 1575.48 1562.8 2020-03-12 1636.65 1603.68 1570.7 2020-03-11 1662.5 1658.13 1653.75 2020-03-10 1657.4 1656.55 1655.7 2020-03-09 1676.6 1674.55 1672.5 2020-03-06 1687 1685.33 1683.65 2020-03-05 1647.45 1653.53 1659.6 2020-03-04 1644.8 1643.33 1641.85 2020-03-03 1599.05 1607.28 1615.5 2020-03-02 1609.7 1604.68 1599.65

Silver

Date(Fix.)($/oz) Average15.05 2020-03-2614.41 2020-03-2513.965 2020-03-2413.625 2020-03-2312.51 2020-03-2012.63 2020-03-1912.005 2020-03-1812.42 2020-03-1712.44 2020-03-1612.965 2020-03-1315.77 2020-03-1216.525 2020-03-1117.02 2020-03-1017.07 2020-03-0916.885 2020-03-0617.48 2020-03-0517.2 2020-03-0417.25 2020-03-0316.81 2020-03-0216.915

Tin

Date(Fix.)($/MT) Average15474.21 2020-03-2614135 2020-03-2513720 2020-03-2413450 2020-03-2313975 2020-03-2014500 2020-03-1913400 2020-03-1814075 2020-03-1714545 2020-03-1615400 2020-03-1316400 2020-03-1216235 2020-03-1116725 2020-03-1016805 2020-03-0916560 2020-03-0616910 2020-03-0517000 2020-03-0417000 2020-03-0316750 2020-03-0216425

Zinc

Date(Fix.)($/MT) Average1914.24 2020-03-261831.5 2020-03-251773.5 2020-03-241822 2020-03-231814 2020-03-201880 2020-03-191841 2020-03-181820 2020-03-171900 2020-03-161932 2020-03-131986.5 2020-03-121927 2020-03-111978.5 2020-03-102000 2020-03-091925.5 2020-03-061978 2020-03-052002 2020-03-041964 2020-03-031986 2020-03-022009

Cobalt(Standard Grade MB free market low quotation)

Date(Fix.)($/lb) Average16.78 2020-03-26- 2020-03-25- 2020-03-24- 2020-03-23- 2020-03-2016.3 2020-03-19- 2020-03-1816.4 2020-03-17- 2020-03-16- 2020-03-1317 2020-03-12- 2020-03-1117 2020-03-10- 2020-03-09- 2020-03-0617 2020-03-05- 2020-03-0417 2020-03-03- 2020-03-02-

Platinum

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 771.16 767.24 763.32 2020-03-26 730 736 742 2020-03-25 734 728 722 2020-03-24 679 681.5 684 2020-03-23 618 620.5 623 2020-03-20 628 621 614 2020-03-19 607 600 593 2020-03-18 652 641.5 631 2020-03-17 641 646 651 2020-03-16 713 695 677 2020-03-13 801 791.5 782 2020-03-12 858 833.5 809 2020-03-11 880 879.5 879 2020-03-10 878 873.5 869 2020-03-09 873 871.5 870 2020-03-06 871 883 895 2020-03-05 867 866.5 866 2020-03-04 877 877 877 2020-03-03 871 866.5 862 2020-03-02 874 865.5 857

Palladium

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 2105.58 2094.74 2083.89 2020-03-26 2258 2262.5 2267 2020-03-25 2047 2046 2045 2020-03-24 1820 1887.5 1955 2020-03-23 1659 1654.5 1650 2020-03-20 1704 1669.5 1635 2020-03-19 1593 1651 1709 2020-03-18 1588 1593 1598 2020-03-17 1583 1592.5 1602 2020-03-16 1720 1638.5 1557 2020-03-13 1975 1859.5 1744 2020-03-12 2230 2135 2040 2020-03-11 2367 2373 2379 2020-03-10 2458 2446.5 2435 2020-03-09 2432 2460.5 2489 2020-03-06 2465 2518 2571 2020-03-05 2495 2488.5 2482 2020-03-04 2436 2439.5 2443 2020-03-03 2516 2493 2470 2020-03-02 2660 2591.5 2523

Overview (February 2020)

After an upbeat start to the year with a good deal of optimism for a recovery in 2020, the situation has suf-fered a significant volte-face as the ramifications of the coronavirus have sunk in more. The metals initial-ly had a knee-jerk reaction, falling by an average of 12 percent in the second half of January, only to rebound in the first two weeks of February, but as February draws to a close, the metals are under pressure again – that said as of February 26, prices were down by an average of 10.9 percent, from their January 17 highs, so as a group have not fallen further than they did during their initial knee-jerk reaction in January. Gold prices have done the opposite to base metals, they initially ran higher, then pulled back when the metals rebounded, but have accelerated higher since February 12, to set a seven-year high at $1,689 per oz. More re-cently weaker treasury yields and a stock market weak-ness have weighed on the dollar, it was last at 99, but given the relative strength of the US economy it may not stay down for long. Equity markets initially reacted to the outbreak of the virus with the Dow Jones Indus-trial Average falling 7.7 percent between January 17 and the end of January, but then rebounded to set fresh record highs at 29,568.57 on February 12, which suggested considerable complacency to the unfolding crisis.
But, as contagion started to gather pace outside China, the equity markets were forced to undergo a reality check – at the time of writing the DJIA was down 9.4 percent from the mid-January high. While the spread of the virus in China, South Korea, Japan and Italy may hit demand for metals as factories are forced to close, or reduce output, and consumers pull back from shopping, the disruption to China's exports are also likely to have far-reaching consequences as parts' shipments are delayed. The degree to how much this will bring factories around the world to a halt remains to be seen as there is a structural delay be-tween shipments leaving and arriving given journey times and it will also depend on whether manufactur-ers have large enough inventories to ride out the ship-ping delays. Despite this week’s big sell-off in equity markets, the worst is yet to come… global supply chains are being seriously disrupted, at a time when China accounts for about 20 per cent of global gross domestic product, not the tiny 4 per cent it had at the time of Sars in 2003.” That said, while the human cost is tragic, with some 2,762 deaths reported, the total number of recovered cases has reached 30,000, out of 81,000 of confirmed cases, so it does look as though the biggest impact, in the end, will be an economic one that slows down economic activity, causes a tem-porary hit to demand and causes supply chain disrup-tions. But, the economic recovery could be swift once the ill-wind has swept through the global economy as easier monetary policy and stimulus in countries af-fected by the virus and the fallout from it, combined with the build-up of pent-up demand following two-years of weak economic activity caused by the US/China trade war and now the virus, could mean the eventual rebound is robust, especially if the down-stream parts of the supply chain have for one reason or another destocked.