Base metals posted great recovery across board on LME last week despite manufacturing data from China that showed a sluggish start to the year tempered near term demand expectations from the world's top consumer of the metal.
China's manufacturers started 2012 in a sluggish mode, suggesting Beijing will keep pulling pro growth policy levers despite some early signs that a downward drift in factory activity is slowing, a survey of purchasing managers showed on Friday.
The HSBC flash manufacturing purchasing managers index, the earliest indicator of China's industrial activity, stood at 48.8 in January, a slight improvement on the 48.7 final reading of the December index that put the indicator at a three-month high.
The improving investor confidence came after Spain sold more longer term debt than expected, while France raised almost 9.5 billion euros in its first bond auctions since Standard & Poor's stripped the country of its AAA rating last week.
Signs the U.S. economy is recovering also helped underpin sentiment towards metals. US jobless claims fell to near a four year low last week, while inflation readings in December were tame. US single family housing starts, which account for a larger share of new home construction, rose 4.4 percent.
London Metal Exchange Rates
Cash Buyer
| Product | 12-Jan | 19-Jan | Change | % |
| Zinc | 1944 | 2011 | 67 | 3% |
| Nickel | 19570 | 19670 | 100 | 1% |
| Tin | 21075 | 21975 | 900 | 4% |
| Aluminium | 2157 | 2181 | 24 | 1% |
| Copper | 7946 | 8350 | 405 | 5% |
Change is on Jan 19th as compared to 12th Jan 2012
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 12-Jan | 16-Jan | 17-Jan | 18-Jan | 19-Jan |
| 1944 | 1948 | 2000 | 1997 | 2011 |
In USD per tonne
| Date | Rate | Period | Change |
| 19-Jan | 2011 | | |
| 12-Jan | 1944 | WoW | 3.45% |
| 19-Dec | 1851 | MoM | 8.64% |
| 19-Oct | 1832 | QoQ | 9.80% |
| 19-Jan'11 | 2425 | YoY | -17.07% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 12-Jan | 16-Jan | 17-Jan | 18-Jan | 19-Jan |
| 19570 | 19265 | 19475 | 19455 | 19670 |
In USD per tonne
| Date | Rate | Period | Change |
| 19-Jan | 19670 | | |
| 12-Jan | 19570 | WoW | 0.51% |
| 19-Dec | 18345 | MoM | 7.22% |
| 19-Oct | 18930 | QoQ | 3.91% |
| 19-Jan'11 | 26190 | YoY | -24.89% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 12-Jan | 16-Jan | 17-Jan | 18-Jan | 19-Jan |
| 21075 | 20850 | 21575 | 21550 | 21975 |
In USD per tonne
| Date | Rate | Period | Change |
| 19-Jan | 21975 | | |
| 12-Jan | 21075 | WoW | 4.27% |
| 19-Dec | 18650 | MoM | 17.83% |
| 19-Oct | 21550 | QoQ | 1.97% |
| 19-Jan'11 | 27200 | YoY | -19.21% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 12-Jan | 16-Jan | 17-Jan | 18-Jan | 19-Jan |
| 2157 | 2120 | 2171 | 2174 | 2181 |
In USD per tonne
| Date | Rate | Period | Change |
| 19-Jan | 2181 | | |
| 12-Jan | 2157 | WoW | 1.09% |
| 19-Dec | 1955 | MoM | 11.53% |
| 19-Oct | 2171 | QoQ | 0.44% |
| 19-Jan'11 | 2444 | YoY | -10.78% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 12-Jan | 16-Jan | 17-Jan | 18-Jan | 19-Jan |
| 7946 | 8020 | 8185 | 8156 | 8350 |
In USD per tonne
| Date | Rate | Period | Change |
| 19-Jan | 8350 | | |
| 12-Jan | 7946 | WoW | 5.09% |
| 19-Dec | 7300 | MoM | 14.38% |
| 19-Oct | 7305 | QoQ | 14.31% |
| 19-Jan'11 | 9787 | YoY | -14.68% |
In USD per tonne
If volatility in steel prices is affecting your business, keep tab on market realities and trends by subscribing to www.steelprices-india.com, which is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis.
Products covered
1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms
2. Long products - Rebar, wire rod, angle, channel and joists
3. Flat products - Narrow plates, wide plates, HR, CR and galvanized
4. Others - Pipes
How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3
(Sourced from www.steelprices-india.com)
