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Prices & Review

Daily price | 2020-01

Copper

Date(Fix.)($/MT) Average6186.12 2020-01-206245 2020-01-176276.5 2020-01-166300.5 2020-01-156232 2020-01-146247 2020-01-136177 2020-01-106157 2020-01-096156 2020-01-086154 2020-01-076134.5 2020-01-066097.5 2020-01-036077 2020-01-026165.5 2020-01-01-

Lead

Date(Fix.)($/MT) Average1928.15 2020-01-201982 2020-01-171977 2020-01-162027 2020-01-151960.5 2020-01-141897 2020-01-131891.5 2020-01-101922 2020-01-091902 2020-01-081908.5 2020-01-071905 2020-01-061900 2020-01-031889.5 2020-01-021904 2020-01-01-

Nickel

Date(Fix.)($/MT) Average13916.54 2020-01-2013845 2020-01-1713840 2020-01-1614290 2020-01-1513950 2020-01-1413680 2020-01-1314190 2020-01-1014050 2020-01-0914125 2020-01-0813810 2020-01-0713860 2020-01-0613795 2020-01-0313740 2020-01-0213740 2020-01-01-

Gold

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 1554.53 1554.55 1554.57 2020-01-20 1559.25 1559.7 1560.15 2020-01-17 1556.5 1557.05 1557.6 2020-01-16 1555.2 1554.88 1554.55 2020-01-15 1551.9 1550.45 1549 2020-01-14 1544.95 1545.03 1545.1 2020-01-13 1550.35 1550.13 1549.9 2020-01-10 1548.8 1551.2 1553.6 2020-01-09 1547.85 1549.3 1550.75 2020-01-08 1582.85 1577.4 1571.95 2020-01-07 1566.5 1567.18 1567.85 2020-01-06 1576.85 1574.98 1573.1 2020-01-03 1547.4 1548.08 1548.75 2020-01-02 1520.55 1523.83 1527.1 2020-01-01

Silver

Date(Fix.)($/oz) Average18.05 2020-01-2018.055 2020-01-1718.06 2020-01-1618.01 2020-01-1517.85 2020-01-1417.77 2020-01-1317.985 2020-01-1017.915 2020-01-0917.91 2020-01-0818.42 2020-01-0718.145 2020-01-0618.44 2020-01-0318.21 2020-01-0217.925 2020-01-01-

Tin

Date(Fix.)($/MT) Average17268.85 2020-01-2017775 2020-01-1717775 2020-01-1617705 2020-01-1517430 2020-01-1417320 2020-01-1317275 2020-01-1017275 2020-01-0917250 2020-01-0816975 2020-01-0716940 2020-01-0616875 2020-01-0316750 2020-01-0217150 2020-01-01-

Zinc

Date(Fix.)($/MT) Average2378.81 2020-01-202461 2020-01-172434 2020-01-162438 2020-01-152390 2020-01-142364 2020-01-132366.5 2020-01-102382 2020-01-092419 2020-01-082406 2020-01-072346 2020-01-062335 2020-01-032284 2020-01-022299 2020-01-01-

Cobalt(Standard Grade MB free market low quotation)

Date(Fix.)($/lb) Average15.56 2020-01-20- 2020-01-17- 2020-01-16- 2020-01-1515.7 2020-01-14- 2020-01-13- 2020-01-1015.7 2020-01-09- 2020-01-0815.55 2020-01-07- 2020-01-06- 2020-01-0315.25 2020-01-02- 2020-01-0115.6

Platinum

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 986.23 986.35 986.46 2020-01-20 1025 1020.5 1016 2020-01-17 1016 1016 1016 2020-01-16 1033 1025 1017 2020-01-15 998 1005.5 1013 2020-01-14 968 970 972 2020-01-13 968 972.5 977 2020-01-10 973 971 969 2020-01-09 954 956 958 2020-01-08 965 968.5 972 2020-01-07 966 963.5 961 2020-01-06 986 984.5 983 2020-01-03 988 985.5 983 2020-01-02 981 984 987 2020-01-01 - - -

Palladium

Date(Fix.)AM
($/oz)
MEAN
($/oz)
PM
($/oz)
Average 2157.62 2161.08 2164.54 2020-01-20 2573 2553 2533 2020-01-17 2368 2416.5 2465 2020-01-16 2366 2344.5 2323 2020-01-15 2186 2208.5 2231 2020-01-14 2147 2149.5 2152 2020-01-13 2117 2125.5 2134 2020-01-10 2120 2115 2110 2020-01-09 2120 2119.5 2119 2020-01-08 2090 2096.5 2103 2020-01-07 2028 2029 2030 2020-01-06 2023 2019.5 2016 2020-01-03 1961 1969 1977 2020-01-02 1950 1948 1946 2020-01-01 - - -

Overview (December 2019)

Broad markets are ending 2019 on a more upbeat mode as the one development that had been so long in coming has now, at least partially, come about – that being a preliminary US-China trade deal, even if full details are not known yet. The deal did prevent an extra $160 billion worth of tariffs on US imports from China being implemented on December 15. Besides, a UK government with a majority is now better placed to push through with Brexit, making a disorderly exit now less likely. While equity indices in many regions are at record or multi-year highs, the base metals have been more circumspect. All are off their autumn lows and have managed to get some lift as December has progressed - some more than others, but they are all well below the highs seen earlier in the year, and before the trade war started. Indeed the base metals seem quite reserved considering the trade war has weighed heavily on global growth - you would have thought a partial trade deal would have gone a long way in boosting sentiment. Also, there is room for optimism as an easier trade environment seems to be coinciding with some early signs of stronger economic growth in China. The ten-year US treasury yields have climbed to 1.94 percent from 1.74 percent at the time of the November report and while gold prices at $1,480 per oz are down from the September high at $1,557.20 per oz, they have held up relatively well in December, considering the partial trade deal and the fact they had been as low as $1,446 per oz in November. The metals may also be holding back as the economic conditions in Europe remain depressed. New European Central Bank (ECB) president Christine Lagarde said a wide-ranging review of the ECB’s strategy was underway, one that could allow policymakers to expand the number of tools used to stimulate growth and push inflation back towards the target level of 2 percent. This review will start in January, but not be completed until late 2020, so until then ECB policy is likely to remain unchanged. The forecast for 2020 is for GDP growth of 1.8 percent, as the 2017 boost from $1.5 trillion tax cuts fades further and as businesses get anxious about the 2020 US presidential election. “I think next year is shaping up to be a rather pedestrian economy,” said Mark Zandi, chief economist at Moody’s Analytics. Perhaps a better trade climate will prove him wrong. Currencies have had a choppy month, the dollar index started December at 98.27, dropped to 96.60, on the back of sterling’s bullish reaction to the UK election result, but has since recovered to 97.70 as treasury yields are on the rise again and as sterling (1.3034) and the euro (1.1073) retreat. The dollar and the US markets, in general, do not seem to be nervous that President Donald Trump has been impeached for alleged Abuse of Power and Obstruction of Congress. Sterling having run up to 1.3514 after the election has given back most of its gains as Prime Minister Boris Johnson said the end of 2020 was a hard deadline for the UK and EU to strike a new trade deal – so maybe a hard Brexit has not been avoided. All in all, as long a China and the US move forward on trade, the outlook for 2020 could be a lot brighter and metals could get a considerable lift if business confidence is boosted enough to prompt restocking.