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.

SUMMARY

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.    .

General

Australian exploration expenditure for June 2014 Qtr – improved on March but still down yr-on-yr.

USA:  PMI (strong) & Construction Spending (reporting good growth).