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FT Mercati provides its customers with the latest news from the commodities market. Here a selection of our latest news:
11/27/2023
The international analysis company World Bank reports the estimated average price for zinc in 2023, 2024 and 2025, updated according to its latest release in april :
2023 = $ 2,500 /tonn ;
2024 = $ 2,400 /tonn .
2025 = $ 2,500 /tonn .
(Estimates are down from what was communicated in the previous release of April)
11/27/2023
The international analysis company World Bank reports the estimated average price for tin in 2023, 2024 and 2025, updated according to its latest release in april:
2023 = $ 26,000 /tonn ;
2024 = $ 25,000 /tonn .
2025 = $ 27,000 /tonn .
(The estimates are above what was communicated in the previous release in April)
11/27/2023
OPECNA, the news agency of OPEC, announced the OPEC Basket preliminary price
24 november = $ 84.16 /b (up from previous daily value)
(The OPEC Reference Basket (ORB) introduced on 16 June 2005, is currently made up of the following: Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia , UAE and Venezuela.
11/27/2023
The international analysis company World Bank reports the estimated average price for lead in 2023, 2024 and 2025, updated according to its latest release in april :
2023 = $ 2,100 /tonn ;
2024 = $ 2,050 /tonn .
2025 = $ 2,100 /tonn .
(Estimates are broadly unchanged from what was communicated in the previous release in April)
11/27/2023
According to preliminary International Copper Study Group ( ICSG ) data, this are figures of copper world production and usage (thousand tonns) :
JAN-SEPTEMBER 2023 :
world mine PRODUCTION (concentrates and SX-EW) = 16,324 ;
world mine CAPACITY = 21,038 ;
primary refined PRODUCTION (A) = 16,576 ;
secondary refind PRODUCTION (B) = 3,323 ;
Total A+B = 19,899 ;
world refined USAGE (C ) = 19,882 ;
balance A+B-C = +17 (surplus ).
11/27/2023
According to preliminary International Copper Study Group ( ICSG ) data, the world refined copper market in first 9 months 2023 indicates a surplus of about 17,000 tonns. (preliminary data).
In same period, world copper mine production increasd by 1.1% YoY with mine output in Chile (world’s biggest copper mine producing country) declined by 1.9% and output in Peru (the world’s second biggest copper mine producing country) increased by 16% YoY .
Refined production increased by 5,3% YoY in september 2023, with primary production increased by 4.8% YoY and secondary production (from scraps) up by 7.5% YoY.
Finally, in the first 8 months of 2023, worldwide refined consumption increased by 3% YoY.
