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    John Gross' Take On Changes in Metals Prices: Breathtaking

    Aug. 21, 2017
    Base metals took off last week, with some making multi-year highs, while others are still challenging previous peaks.

    Base metals took off last week, with some making multi-year highs, while others are still challenging previous peaks. Zinc was the star performer with a gain of 10.5 cents on the week, putting it about 36% over the year ago price. We have to go back to Oct. 2007 when it was last at this level.

     Spot copper on Comex rose to a mid-week high close of $2.9545, and finished Friday at $2.94, just a tad below its first line of resistance. And the mystery of the August / September backwardation remains in place, despite another 3,800 MT going into Cx warehouses.

     In the precious metals sector, palladium climbed to its highest level since 2001, but the rest of the group hasn’t done much of late. And the same goes for energy, as crude remains stuck in a narrow range, while natural gas hovers around the $3.00 level, with both in negative territory thus far this year.

     And finally, its time again to keep an eye on equities as evidenced by the S&P 500 slipping below its first line of support.

    John Gross publisher of The Copper Journal and is one of the metals' industry's best resources on copper pricing trends.

    If you would like to learn more about how to manage your wire and cable inventory in this volatile market environment, email John at by clicking here or calling him at 631-824-6486.

    About the Author

    John Gross | President

    John Gross is president of J.E. Gross & Co., Inc, the management consulting firm he established in 1987. In addition to his consulting activities, Gross has worked with global leaders in the metals industry over the past thirty-five years. He began his career in metals in 1973 when he joined U.S. Metals Refining Company, a division of Amax Inc., where he rose to become manager of administration. In 1981 he joined Hudson Bay Mining and Smelting as manager of trading and in 1983 became a futures broker with Johnson Matthey, specializing in metals on Comex and the London Metal Exchange.

    He joined BICC Cables Corp. in 1985, now owned by General Cable, where he became V.P. of strategic metals for their North American operations. He was also director of metals management with Scott Brass, a producer and manufacturer of copper and brass strip products.

    Gross is a graduate of Hofstra University, and is a highly decorated Vietnam Veteran. He has held memberships in several trade organizations; was a director of the American Copper Council, and served as a member of the Comex Advisory Committee. He is very active in industry affairs, and has written extensively on the metal markets, industry issues.

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