SUMMARY

Copper  Indonesian Govt met with Major Cu miners to resolve export ban issues.

Nickel  Supply of nickel laterite ores outside Indonesia is not enough to directly replace Indonesian product.

Zinc & Lead Markets now looking toward mine closures, looking for new expansions.

Tin  China’s refined tin imports fell, as did imports of tin concentrate.

Aluminium  Bauxite prices up to ~USD 60/t, on concerns of impact of Indonesian ban on exports of unprocessed ores.

Gold  Prices up on short covering.  LME Silver settlement process to be revised.

Platinum & Palladium  A tentative resolution to strike has been agreed.     .

Oil  Prices up on attacks into Iraq by militant insurgents.   .

Coal  Offers for July monthly HCC contracts made to SAIL, and potentially lead Sept Qtr indications.

Iron Ore  China’s crude steel output is at record levels.

Shipping  Cape rates lifted during the week.    .

General

OECD Composite Leading Indicators:  improvements ahead for – USA, South Korea, China, India & South Africa.  Of these the indicators for India are the clearest, while the rest are quite tentative.  Potentially there may not be much real improvement in growth in most of these countries till 2015, according to the CLI.

Port of Singapore:  seaborne traffic – growth continues for containers and bulk carriers albeit at slower rates than in prior months.

Germany – Industrial production, Durable Goods, Orders to Industry.