Of particular interest this week:
– Australian Exploration Expenditure for the June Qtr. Spending is up (seasonal).
– Zinc-Lead – Potential zinc supply developing from DRC and NSW.
– Coal – Chinese thermal offtake increasing. Australian met-coal output increasing, keeping prices low.
– Iron Ore – ptHedland exports at record levels. AUDUSD rate appears to high for the current ore price level.
Copper – Escondida has ore-grade copper mineralisation under its infrastructure.
Nickel – Philippines may ban exports of unprocessed ores.
Zinc & Lead – Ivanhoe testing Kipushi (Cu-Zn) in DRC. AMI is developing Hera-Nymagee (Zn-Pb-Cu). .
Tin – Tin prices in China more resilient than on the LME.
Aluminium – Japan’s demand for aluminium is tighter. Premiums over LME price are rising.
Gold – Price down on ECB’s interest rate cuts.
Platinum & Palladium – Concerns regarding palladium supply effects of sanctions against Russia. .
Oil – Price down on lower economic growth from USA.
Coal – Australian met-coal output to continue to expand. Thermal coal exports to China increasing.
Iron Ore – Ore prices at 5 year lows. Port Hedland shipments at record levels. AUDUSD is too high.
Shipping – Pressure down on capesize rates. Panamax relying on extended grain shipping season. .
Australian exploration expenditure for June 2014 Qtr – improved on March but still down yr-on-yr.
USA: PMI (strong) & Construction Spending (reporting good growth).