Weekly Report Index Of Charts 1 Price & Inventory Report 2 Base Metals Barometer 3 Year To Date % Price Change 4 LME Nonferrous Metals YTD % Change 5 Precious Metals YTD % Price Change 6 Energy YTD % Price Change 7 Equities YTD % Price Change 8 ICE U.S. $ Index 9 1 $ U.S. = Euro 10 1 Euro = U.S. $ 11 Copper Versus Euro 12 Copper Weekly Bar 13 Copper 14 Aluminum 15 Lead 16 Tin 17 Nickel 18 Zinc 19 260 Brass 20 CME Hot Rolled Coil Steel 21 CME Busheling Ferrous Scrap 22 Silver 23 Gold 24 Platinum 25 Palladium 26 Crude Oil 27 Natural Gas 28 2 & 10 Year Treasury Yields 29 S&P 500 30 Shanghai Composite Charts represent week ending closing prices and inventory levels, unless otherwise noted
Weekly Price and Inventory Report Prices Week Ending 2/23/18 12/31/18 2/15/19 2/22/19 ICE U.S. $ Index 89.81 95.74 96.74 96.37 (0.37) (0.4%) 0.63 0.7% 6.56 7.3% $1 US = Euro 0.8131 0.8718 0.8851 0.8822 ($0.0029) (0.3%) $0.0104 1.2% $0.0691 8.5% 1 Euro = $ US $1.2298 $1.1470 $1.1298 $1.1335 0.0037 0.3% ( 0.0135) (1.2%) ( 0.0963) (7.8%) Cx Silver $16.48 $15.43 $15.72 $15.91 $0.19 1.2% $0.48 3.1% ($0.57) (3.5%) Cx Gold $1,328.20 $1,278.30 $1,318.10 $1,329.20 $11.10 0.8% $50.90 4.0% $1.00 0.1% NYM Platinum $995.80 $795.90 $803.40 $842.20 $38.80 4.8% $46.30 5.8% ($153.60) (15.4%) NYM Palladium $1,043.05 $1,253.90 $1,445.60 $1,472.30 $26.70 1.8% $218.40 17.4% $429.25 41.2% Cx Copper $3.2085 $2.6280 $2.8025 $2.9610 $0.1585 5.7% $0.3330 12.7% ($0.2475) (7.7%) LME Copper $3.2083 $2.7057 $2.8077 $2.9434 $0.1357 4.8% $0.2377 8.8% ($0.2649) (8.3%) LME Aluminum $1.0024 $0.8478 $0.8292 $0.8573 $0.0281 3.4% $0.0095 1.1% ($0.1451) (14.5%) LME Lead $1.1490 $0.9113 $0.9380 $0.9339 ($0.0041) (0.4%) $0.0226 2.5% ($0.2151) (18.7%) LME Tin $9.82 $8.85 $9.56 $9.82 $0.26 2.7% $0.97 11.0% $0.00 0.0% LME Nickel $6.26 $4.81 $5.49 $5.86 $0.37 6.7% $1.05 21.8% ($0.40) (6.4%) LME Zinc $1.6189 $1.1385 $1.1979 $1.2329 $0.0350 2.9% $0.0944 8.3% ($0.3860) (23.8%) Base Metals Barometer 1.76 1.42 1.48 1.55 0.07 4.7% 0.13 9.2% (0.21) (11.9%) CME HRC Steel $745 $721 $678 $675 ($3) (0.4%) ($46) (6.4%) ($70.00) (9.4%) CME Busheling Scrap $385 $379 $366 $377 $11 3.0% ($2) (0.5%) ($8.00) (2.1%) NYM Crude Oil $63.55 $45.41 $55.59 $57.26 $1.67 3.0% $11.85 26.1% ($6.29) (9.9%) NYM Natural Gas $2.625 $2.940 $2.625 $2.717 $0.092 3.5% ($0.223) (7.6%) $0.092 3.5% S&P 500 2,747.30 2,506.85 2,775.60 2,792.67 17.07 0.6% 285.82 11.4% 45.37 1.7% Shanghai Composite 3,289.02 2,493.90 2,682.39 2,804.23 121.84 4.5% 310.33 12.4% (484.79) (14.7%) 2 Year Treasury Yield 2.24% 2.50% 2.52% 2.49% (0.03%) (1.2%) (0.01%) (0.4%) 0.25% 11.2% 10 Year Treasury Yield 2.87% 2.68% 2.67% 2.65% (0.02%) (0.7%) (0.03%) (1.1%) (0.22%) (7.7%) Inventories MT Week Ending 2/23/18 12/31/18 2/15/19 2/22/19 Wk / Wk Change YTD Change Wk / Wk YTD Yr / Yr Cx Copper 207,665 100,226 65,696 59,075 (6,621) (10.1%) (41,151) (41.1%) (148,590) (71.6%) LME Copper 332,450 132,175 143,175 133,825 (9,350) (6.5%) 1,650 1.2% (198,625) (59.7%) Shanghai Copper 218,532 118,686 207,118 217,794 10,676 5.2% 99,108 83.5% (738) (0.3%) Total Copper 758,647 351,087 415,989 410,694 (5,295) (1.3%) 59,607 17.0% (347,953) (45.9%) LME Aluminum 1,330,875 1,271,200 1,266,600 1,239,800 (26,800) (2.1%) (31,400) (2.5%) (91,075) (6.8%) LME Lead 113,650 107,450 67,300 76,825 9,525 14.2% (30,625) (28.5%) (36,825) (32.4%) LME Tin 1,860 2,175 1,525 1,440 (85) (5.6%) (735) (33.8%) (420) (22.6%) LME Nickel 336,264 207,330 200,562 199,974 (588) (0.3%) (7,356) (3.5%) (136,290) (40.5%) LME Zinc 140,975 129,325 93,450 81,100 (12,350) (13.2%) (48,225) (37.3%) (59,875) (42.5%) Yr / Yr The difference in copper prices between Comex and LME is the arbitrage, and time of day in establishing official settlement prices. The Base Metals Barometer is a weighted average of nonferrous metal prices, based on a percentage of total metal consumption. www.jegross.com
1.90 1.85 1.80 1.75 1.70 1.65 1.60 1.55 1.50 1.45 1.40 1.35 1.30 1.25 1.20 1.15 1.10 1.05 Base Metals Barometer 1.90 1.85 1.80 1.75 1.70 1.65 1.60 1.55 1.50 1.45 1.40 1.35 1.30 1.25 1.20 1.15 1.10 1.05 1.00 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 The Base Metals Barometer is a weighted average of nonferrous metal prices, based on a percentage of total metal consumption. 1.00
U.S. Dollar Index 1 $ US = Euro 1 Euro = $ US Cx Silver Cx Gold (1.2%) 2019 Year To Date % Price Change 0.7% 1.2% 3.1% 4.0% NYM Platinum NYM Palladium Cx Copper LME Copper LME Aluminum LME Lead LME Tin 1.1% 5.8% 2.5% 8.8% 12.7% 11.0% 17.4% LME Nickel LME Zinc CME HRC (6.4%) 8.3% 21.8% CME BFS (0.5%) NYM Crude Oil NYM Natural Gas S&P 500 (7.6%) 11.4% 26.1% Shanghai Comp. 12.4% (10%) (5%) 0% 5% 10% 15% 20% 25% 30%
24.0% LME Nonferrous Metals 2019 YTD % Price Change 22.0% 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% (2.0%) (4.0%) (6.0%) 1/4/19 1/11/19 1/18/19 1/25/19 2/1/19 2/8/19 2/15/19 2/22/19 Copper Aluminum Lead Tin Nickel Zinc
18.0% 17.0% 16.0% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% (1.0%) Precious Metals 2019 YTD % Price Change (2.0%) 1/4/19 1/11/19 1/18/19 1/25/19 2/1/19 2/8/19 2/15/19 2/22/19 Silver Gold Platinum Palladium
28.0% 26.0% 24.0% 22.0% 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% (2.0%) (4.0%) (6.0%) (8.0%) (10.0%) (12.0%) Energy 2018 YTD % Price Change (14.0%) 1/4/19 1/11/19 1/18/19 1/25/19 2/1/19 2/8/19 2/15/19 2/22/19 Crude Oil Natural Gas
14.0% Equities 2018 YTD % Price Change 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% (1.0%) 1/4/19 1/11/19 1/18/19 1/25/19 2/1/19 2/8/19 2/15/19 2/22/19 S&P 500 Shanghai Composite
104.0 103.0 102.0 101.0 100.0 99.0 98.0 97.0 96.0 95.0 94.0 93.0 92.0 91.0 90.0 89.0 ICE U.S. $ Index 104.0 103.0 102.0 101.0 100.0 99.0 98.0 97.0 96.0 95.0 94.0 93.0 92.0 91.0 90.0 89.0 88.0 Jan-16 Jan-17 Jan-18 Jan-19 88.0.
0.97 0.96 0.95 0.94 0.93 0.92 0.91 0.90 0.89 0.88 0.87 0.86 0.85 0.84 0.83 0.82 0.81 0.80 1 $ U.S. = Euro 0.97 0.96 0.95 0.94 0.93 0.92 0.91 0.90 0.89 0.88 0.87 0.86 0.85 0.84 0.83 0.82 0.81 0.80 0.79 Jan-16 Jan-17 Jan-18 Jan-19 0.79
$1.26 1 Euro = $ U.S. $1.26 $1.24 $1.24 $1.22 $1.22 $1.20 $1.20 $1.18 $1.18 $1.16 $1.16 $1.14 $1.14 $1.12 $1.12 $1.10 $1.10 $1.08 $1.08 $1.06 $1.06 $1.04 $1.04 $1.02 Jan-16 Jan-17 Jan-18 Jan-19 $1.02
$3.50 $3.40 $3.30 $3.20 $3.10 $3.00 $2.90 $2.80 $2.70 $2.60 $2.50 $2.40 $2.30 $2.20 $2.10 $2.00 Comex Copper Vs Euro = $ U.S. $1.26 $1.25 $1.23 $1.22 $1.20 $1.19 $1.17 $1.16 $1.14 $1.13 $1.11 $1.10 $1.08 $1.07 $1.05 $1.04 $1.90 Jan-16 Jan-17 Jan-18 Jan-19 $1.02 Cx Spot Copper $ / LB 1 Euro = $ US
$3.50 $3.40 $3.30 $3.20 $3.10 $3.00 $2.90 $2.80 $2.70 $2.60 $2.50 $2.40 $2.30 $2.20 $2.10 $2.00 Comex Spot Copper 10 Week Moving Average of Closing Prices $1.90 Jan-16 Jan-17 Jan-18 Jan-19
$3.60 $3.50 $3.40 $3.30 $3.20 $3.10 $3.00 $2.90 $2.80 $2.70 $2.60 $2.50 $2.40 $2.30 $2.20 $2.10 $2.00 $1.90 $1.80 $1.70 Copper MT 950,000 875,000 800,000 725,000 650,000 575,000 500,000 425,000 350,000 275,000 $1.60 Jan-16 Jan-17 Jan-18 Jan-19 200,000 Comex, LME & Shanghai Inventories Cx Spot Copper $ / LB 52 Week MA
$1.15 Aluminum MT 3,000,000 $1.10 2,750,000 $1.05 2,500,000 $1.00 2,250,000 $0.95 2,000,000 $0.90 1,750,000 $0.85 1,500,000 $0.80 1,250,000 $0.75 1,000,000 $0.70 750,000 $0.65 500,000 $0.60 Jan-16 Jan-17 Jan-18 Jan-19 250,000 LME Inventories LME Cash $ / LB
$1.30 Lead MT 225,000 $1.25 212,500 $1.20 200,000 $1.15 187,500 $1.10 175,000 $1.05 162,500 $1.00 150,000 $0.95 137,500 $0.90 125,000 $0.85 112,500 $0.80 100,000 $0.75 87,500 $0.70 75,000 $0.65 62,500 $0.60 Jan-16 Jan-17 Jan-18 Jan-19 50,000 LME Inventories LME Cash $ / LB
$10.50 Tin MT 9,000 $10.00 8,000 $9.50 7,000 $9.00 6,000 $8.50 5,000 $8.00 4,000 $7.50 3,000 $7.00 2,000 $6.50 1,000 $6.00 Jan-16 Jan-17 Jan-18 Jan-19 0 LME Inventories LME Cash Tin $ / LB
$7.00 Nickel MT 500,000 $6.75 475,000 $6.50 450,000 $6.25 425,000 $6.00 400,000 $5.75 375,000 $5.50 350,000 $5.25 $5.00 325,000 300,000 $4.75 275,000 $4.50 250,000 $4.25 225,000 $4.00 200,000 $3.75 175,000 $3.50 150,000 $3.25 Jan-16 Jan-17 Jan-18 Jan-19 125,000 LME Inventories LME Cash Nickel $ / LB
$1.70 Zinc MT 550,000 $1.60 500,000 $1.50 450,000 $1.40 400,000 $1.30 350,000 $1.20 300,000 $1.10 250,000 $1.00 200,000 $0.90 150,000 $0.80 100,000 $0.70 50,000 $0.60 Jan-16 Jan-17 Jan-18 Jan-19 0 LME Inventories LME Cash $ / LB
$2.90 260 Brass 70% Copper & 30% Zinc MT 425,000 $2.80 400,000 $2.70 375,000 $2.60 350,000 $2.50 325,000 $2.40 300,000 $2.30 275,000 $2.20 250,000 $2.10 225,000 $2.00 200,000 $1.90 175,000 $1.80 150,000 $1.70 125,000 $1.60 100,000 $1.50 75,000 $1.40 Jan-16 Jan-17 Jan-18 Jan-19 50,000 260 Equivalent Inventories LME Equivalent Cash $ / LB
$950 $925 $900 $875 $850 $825 $800 $775 $750 $725 $700 $675 $650 $625 $600 $575 $550 $525 $500 $475 $450 $425 $400 $375 CME U.S. Midwest Domestic Hot-Rolled Coil Steel $350 Jan-16 Jan-17 Jan-18 Jan-19 CME (CRU) Index Futures Settlement - $ / Short Ton
$440 CME U.S. Midwest Busheling Ferrous Scrap $420 $400 $380 $360 $340 $320 $300 $280 $260 $240 $220 $200 Jan-16 Jan-17 Jan-18 Jan-19 CME (AMM) Futures Settlement $ / Gross Ton
$22.00 $21.00 $20.00 $19.00 $18.00 $17.00 $16.00 $15.00 $14.00 Comex Spot Silver $22.00 $21.50 $21.00 $20.50 $20.00 $19.50 $19.00 $18.50 $18.00 $17.50 $17.00 $16.50 $16.00 $15.50 $15.00 $14.50 $14.00 $13.50 $13.00 $13.00 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19
$1,425 Comex Spot Gold 52 Week Moving Average $1,425 $1,400 $1,400 $1,375 $1,375 $1,350 $1,350 $1,325 $1,325 $1,300 $1,300 $1,275 $1,275 $1,250 $1,250 $1,225 $1,225 $1,200 $1,200 $1,175 $1,175 $1,150 $1,150 $1,125 $1,125 $1,100 $1,100 $1,075 $1,075 $1,050 $1,050 $1,025 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 $1,025
$1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900 $800 Nymex Spot Platinum $1,600 $1,550 $1,500 $1,450 $1,400 $1,350 $1,300 $1,250 $1,200 $1,150 $1,100 $1,050 $1,000 $950 $900 $850 $800 $750 $700 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 $700
$1,500 $1,450 $1,400 $1,350 $1,300 $1,250 $1,200 $1,150 $1,100 $1,050 $1,000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 $450 Nymex Spot Palladium $400 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 $1,500 $1,450 $1,400 $1,350 $1,300 $1,250 $1,200 $1,150 $1,100 $1,050 $1,000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 $450 $400
Nymex Crude Oil $115 52 Week Moving Average $115 $110 $110 $105 $105 $100 $100 $95 $95 $90 $90 $85 $85 $80 $80 $75 $75 $70 $70 $65 $65 $60 $60 $55 $55 $50 $50 $45 $45 $40 $40 $35 $35 $30 $30 $25 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 $25
Nymex Natural Gas $7.00 $6.50 $6.00 $5.50 $5.00 $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 $7.00 $6.75 $6.50 $6.25 $6.00 $5.75 $5.50 $5.25 $5.00 $4.75 $4.50 $4.25 $4.00 $3.75 $3.50 $3.25 $3.00 $2.75 $2.50 $2.25 $2.00 $1.75 $1.50 $1.25 $1.00
3.50% 2 Year & 10 Year Treasury Yields 3.50% 3.25% 3.25% 3.00% 3.00% 2.75% 2.75% 2.50% 2.50% 2.25% 2.25% 2.00% 2.00% 1.75% 1.75% 1.50% 1.50% 1.25% 1.25% 1.00% 1.00% 0.75% 0.75% 0.50% 0.50% 0.25% Jan-16 Jan-17 Jan-18 Jan-19 0.25% 2 Year Treasury Yield 10 Year Treasury Yield
S&P 500 3,000 52 Week Moving Average 2,900 2,800 2,700 2,600 2,500 2,400 2,300 2,200 2,100 2,000 1,900 1,800 1,700 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 3,000 2,950 2,900 2,850 2,800 2,750 2,700 2,650 2,600 2,550 2,500 2,450 2,400 2,350 2,300 2,250 2,200 2,150 2,100 2,050 2,000 1,950 1,900 1,850 1,800 1,750 1,700
5,400 5,200 5,000 4,800 4,600 4,400 4,200 4,000 3,800 3,600 3,400 3,200 3,000 2,800 2,600 2,400 2,200 2,000 Shanghai Composite 5,400 5,200 5,000 4,800 4,600 4,400 4,200 4,000 3,800 3,600 3,400 3,200 3,000 2,800 2,600 2,400 2,200 2,000 1,800 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 1,800