Of particular interest this week:
Copper: a two-decade long graphic history. China has been the major source of growth in demand, though other regions are now also contributing to positive demand growth. Copper is one of the commodities for which China is not a major producer.
Nickel: El Nino may boost output, and defer(?) a forecast nickel deficit.
Copper Supply disruptions to drive surplus into deficit this year.
Nickel Filippino El Nino expected to boost to Ni miners output this year.
Zinc & Lead Zinc market not showing much sign of tightness. Price currently moving with other metals.
Tin ANW to develop the Granville Sn deposit in Tasmania.
Aluminium Weak RUB supporting Rusal’s export margins.
Gold Some currency movement driving rises and falls. Indian household holdings, put in perspective!
Platinum & Palladium Zimbabwe trying to coerce producers to process, disappointed if production stops.
Oil India expected to become the third largest oil consumer.
Coal Sept-expiry thermal contracts potentially to be linked to spot, as were June and December expiry.
Iron Ore Volumes up on re-stocking, a surge prior to the September celebrations, and low port inventories.
Shipping Shipping rates up on surge in volume plus reduction in ship numbers.
Copper: China is responsible for most of the past growth.
USA: PMI – positive though slower growth ahead.
USA: Construction Spending – Healthy.