SMM Weekly Price Outlook for Base Metals on LME and SHFE (Jun. 12-16, 2017)

US August employment unexpectedly surged, causing market expectations for a US Fed rate hike in September to heat up sharply, and financial assets swung wildly in response. On Friday, the US Bureau of Labor Statistics released data showing that nonfarm payrolls increased by 162,000 in August, far exceeding the Wall Street median estimate of 55,000 and surpassing the upper bound of all institutional forecasts, marking the second-highest monthly gain of the year.

Bezant Resources PLC has confirmed that development of its Hope & Gorob copper-gold project in Namibia is progressing as planned, with the first raw ore expected to be processed through the Tsoaxaub Metals processing plant in September 2026.Subject to completion of remaining commissioning work, processing this month is expected to produce the first concentrates from the Hope & Gorob mine, marking the project's transition to the production phase.Currently, raw ore from the first two blasts at the mine has been stockpiled and is ready for transport, while camp and surface infrastructure construction at the mine site are both approximately 75% complete, and all mining and haulage equipment has arrived on site. Major civil works and steel structure installation at the beneficiation plant have been completed, mechanical installation is planned for completion in September, electrical drive and instrumentation connections are approximately 90% complete, and ore sorting equipment is expected to arrive on site in the near term.

Data released by the Central Reserve Bank of Peru showed that in June 2026, Peru exported 174,800 mt of copper, 1,900 mt of tin, 627,800 ounces of gold, 400,000 ounces of refined silver, 153,600 mt of lead, and 68,800 mt of zinc.