SUMMARY

 Copper  – Prices up on USA’s and China’s economic data and shrinking inventory.

Nickel  – Indonesia is proving doubters wrong as buyers commit to construct smelters. .

Zinc & Lead – China maintains a strong taste for zinc.  Imports are up markedly.

Tin  – Price is increasing toward ICDX’s target price for Indonesian metal.

Aluminium  – In April no Indonesian bauxite was imported into China!

Gold  – March Qtr jewellery demand reported moderate gains, while total gold demand was little changed.  .

Platinum & Palladium  – Initial capital for a Zimbabwe platinum refinery has been gathered.

Oil  – Russia seeking to expand oil Resources by evaluating shale-oil prospects.     .

Coal – Despite cost cutting, 25% of Qld coal output is currently at a loss.  HCC prices may have bottomed.  June settlements up slightly on June Qtr.

Iron Ore – Iron ore price below USD 100/t.  Questions about (price) sustainability arise.

Shipping – Capesize rates under pressure despite iron ore carriage volumes

General :
Indonesian coal exports continue to report strong growth.

Global steel production rates for April contracted marginally.

Japan’s electricity demand grew very slowly in April.

France’s industrial production is growing, but has a long way to go to compare with Germany’s.