Tin Prices Rise as Most Congolese Minerals Decline in Weekly Market Update
Congo Mineral Prices Drop This Week as Cobalt, Copper, Nickel Fall — Tin Posts Rare Increase
The prices of most major Congolese raw materials trended downward this week, according to commodity price data released on Monday, November 10, 2015. Tin was the only major mineral to record a notable increase, while several rare metals held steady.
Cobalt, a key component in electric vehicle batteries, posted a slight decline, easing from $47 908.00 to $47 902.00 per tonne. Copper, one of the Democratic Republic of Congo’s most important export minerals, also dipped from $10 914.75 to $10 784.90 per tonne.
Nickel experienced one of the week’s sharpest drops, falling from $14 665.19 to $13 196.93 per tonne. Zinc and niobium concentrate followed the downward trend, closing at $3 185.30 and $5 595.80 per tonne, respectively. Aluminum ingot prices edged down marginally to $1 351.70, compared with $1 353.76 the previous week.
Gold also weakened, slipping from $131.74 to $129.36 per ounce amid broader market uncertainty that has prompted global investors to adopt a more cautious stance.
In contrast, tin recorded a solid gain, rising from $35 422.00 to $36 204.00 per tonne, reflecting renewed interest and stronger demand on international markets.
Meanwhile, the prices of several rare metals remained unchanged. Germanium held steady at $4 253.63, tantalum at $350.00, and silver at $1.57 per ounce.
