Although the Fx is helping with the AUD now sitting at 0.6953 US, I'd like to see further depreciation in the Aussie dollar and/or an sustained uptick in the metal prices. 60 cents has been touted and that would be absolutely perfect.
Copper becomes: 4493/0.6953 = $6461
Zinc becomes: 1515/0.6953 = $2178
Lead becomes: 1644/0.6953 = $2364
Tin becomes: 13825/0.6953 = $19,883
So, come on tin, you have until the 1st to kick yourself into gear. Stocks for tin still hovering around 6k while zinc is starting to look interesting again. Closures of mines look to be having the desired results and this should only avalanche from here.
LME base metals close higher mostly on Friday
Xinhua, January 9, 2016
The base metals prices on the London Metal Exchange (LME) closed higher mostly on Friday.
The three-month unofficial copper price dropped 54.5 U.S. dollars, or 1.20 percent, to 4,493 dollars per tonne.
The three-month unofficial aluminium price increased 16.5 dollars, or 1.12 percent, to 1,492 dollars a tonne.
The three-month unofficial lead price lost 2 dollars, or 0.12 percent, to 1,644 dollars a tonne.
Besides, the three-month unofficial zinc price increased 15 dollars, or 1.00 percent, to 1,515 dollars a tonne.
The three-month unofficial nickel price increased 7.5 dollars, or 0.09 percent, to 8,470 dollars a tonne.
The three-month unofficial tin price increased 50 dollars, or 0.36 percent, to 13,825 dollars a tonne. Endit
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