Of particular interest this week:
– OECD Composite Leading Indicators
– Nickel – circumventing the Indonesian rules
– Gold – outlook for a lower gold price
Copper – Mine expansions boost Zambia’s copper production.
Nickel – Chinese NPI producers hoping to circumvent Indonesia’s Ni ore ban with low-(Ni)-grade ore.
Zinc & Lead – MMG reduced its 2014 Zn output target. Panasonic establishing a lead-acid battery plant in India.
Tin – Clarification of some rules for tin as a ‘conflict mineral’.
Aluminium – Boeing books a large order to Qatar Airways.
Gold – Outlook for a lower gold price, and lower AUDUSD if USA’s budget deficit reduces.
Platinum & Palladium – Palladium demand helped by car sales in China and USA.
Oil – The US ban on oil exports being gnawed at by individual rule changes.
Coal – Australia’s export volumes are increasing despite lower prices.
Iron Ore – China to close up to 80 Mtpa of iron ore capacity this year.
Shipping – Capesize and Panamax rates declined this week.
OECD Composite Leading Indicators (May data), in aggregate, suggest improving conditions ahead.
USA – Housing starts growing strongly in June.
USA – Industrial Production continues steady growth. Capacity utilisation improving fractionally