Base metals on the march!

Are JB and Ralph psychics?

What a time to move the plant into base metals production.

Hopefully it is all running smoothly. ;-)

Let's hope this trend continues as this is great news for our down-trodden resource sector, and of course, a great sign for the Mt Garnet plant and CSD's future.

$$$$$$$$$$$$$$$$$$$$$$

C'mon ZINC, c'mon LEAD c'mon COPPER and (eventually) c'mon tin!!!

LME OPEN – Base metals prices hold firmer ground in premarket, data light session
Posted on July 28, 2014 by Eddie van der Walt

The base metals prices are mostly holding near recent highs in the Monday LME premarket, with some, including lead and tin extending gains made at the end of last week. The lead price pushed its 17-month high to $2,411.75 per tonne, while tin climbed to the highest price in nearly three weeks at $22,510. Zinc also remains elevated but fell just short of advancing past Friday's highest since August 2011 at $2,413 per tonne, though its bias too has been to the upside.

"Zinc and lead are the leading metals today, while aluminium consolidates recent gains as does copper, the latter running into selling on Friday as Freeport reached an export deal with the Indonesian government," FastMarkets analyst William Adams said.


"Whether the interest in zinc and lead encourages buying in the rest of the complex remains to be seen, but we would be wary of profit-taking in zinc before too long," he added.

The data calendar is remarkably light, with the only numbers of note come from the US. These are the July flash services purchasing managers' index, forecast at 62.3 and June pending home sales which are expected to fall by 0.2 percent. The flow on the data front picks up later in the week, with US non-farm payroll numbers due out and a meeting of the Federal Open Market Committee in Washington.

In other commodities, gold regained the $1,300 per ounce level late on Friday, and Brent crude oil is marginally lower at $108 per barrel. The dollar is virtually unchanged so far this morning, trading at 1.3435 against the euro.

In equities, Asian stocks mostly advanced. The Nikkei and Hong Kong Hang Seng are both higher.

In the base metals, copper trading has been relatively busy given the time of year, with nearly 3,200 lots changing hands by 08:00 BST. The metal was last up $7 at $7,127 per tonne. The aluminium price is $11 higher on a close basis at $2,009, and the zinc price was last up $9.50 at $2,399.50. Lead is $25 - a gain of more than one percent - at $2,292 per tonne and tin added $35 to $22,510.

Nickel alone in the complex lost ground on Friday's close, though the slip is unremarkable. It was last down $3 $19,197 per tonne.

See more at: http://www.fastmarkets.com/base-met...data-light-session-78995#sthash.v6AJXzsi.dpuf