Prices for Metals Decrease Across the Board During September

Image titleBy Steve Fiscor, Editor-in-Chief

Market fundamentals are working against miners. Investor confidence, especially with the U.S. equities market, and an improving sentiment toward the U.S. economy are driving precious metal prices lower. According to the E&MJ Price Index (below), gold closed at $1,214.30/oz on October 2–its lowest level for the year. If the trend continues, and in all likelihood it will, gold will fall below the $1,200/oz threshold. Gold started the month trading at $1,289.30/oz and lost $74.90/oz during the month or 5.8%.

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Iron Ore Prices Slump to Multiyear Lows

Seaborne iron ore prices hit a five-year low on August 27, with the Platts 62% Fe Iron Ore Index (IODEX) falling $0.75 day-over-day to $88 per dry metric ton (dmt) Cost and Freight (CFR) North China. The last time the 62% Fe IODEX was lower was July 21, 2009, when it was assessed at $87.50/dmt CFR North China, according to Platts Metals.

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Zinc Moves into Deficit Territory

By Steve Fiscor, Editor-in-Chief

Metal prices during June remained fairly steady with the exception of gold, silver and zinc. 

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