Happy New Year and welcome to 2012. On behalf of all the staff at Total Metal Recyclers we hope 2012 will be a healthy & happy year for you and your families.
We will start 2012 by looking back at the movement of commodity prices in 2011.
**** Copper ****
At the beginning of the year the commentators predicted Copper has a rosy future on the back of China, however this was overshadowed by developments in Europe and the metal finished the year substantially lower. The Copper Base started the year at $9,600 and finished the year at $7,454 (a decrease of 23%). It hit a peak of $10,138 on 14 Feb and hit a low of $6,903 on 21 Oct.
**** Aluminium ****
The Aluminium Base started the year at $2,433 and finished the year at $1,944 (a decrease of 20%). It hit a peak of $2,577 on 23 March and hit a low of $1,932 on 21 December. Aluminium continues to look weak with the price set to start 2012 at 12 months lows. The price of Aluminium is now lower than Lead!
**** Nickel ****
Known as the most volatile of the LME metals and lived up to its reputation in 2011. The Nickel Base started the year at $24,777 and finished the year at $18,038 (a decrease of 27%). It hit a peak of $28,654 on 14 Feb and hit a low of $16,722 on 1 Dec.
Many of the news reports this year focused on the uncertainty in Europe. It seemed one week the problems were getting worse and commodity would fall, then the following week everything was fine and commodities would rise… then the next week back to uncertainty and commodities would fall. By all accounts this cycle hasn’t stopped yet!