Of particular interest this week:
AUDUSD & Interest Rates – a bit of history – should we consider a lower risk-free discount rate, or will the long term rates recover to pre-crash levels ?
Nickel – inventories in China- running down.
Bauxite – Chinese stockpiles good into 2015, but not beyond?
Oil prices and OPEC country budgets – expectations not meeting reality, due to USA’s surge in production and pullback on imports.
Metallurgical coal – activity increased, but not prices (yet).
Physical demand for iron ore and metallurgical coal has not waned … the producers are over-supplying the markets.
Copper Workers at Grassberg call off a planned month-long strike.
Nickel China is forecast to consume its Ni-ore inventories by April 2015.
Zinc & Lead MMG confirms Century will close in the Sept-15 Qtr, later than expected. TCs increase.
Tin PT Timah’s tin output is forecast to increase by 12% this year.
Aluminium China may face a 10-15 Mt bauxite shortage if Indonesia’s bans continue, as promised, into 2015.
Gold Sale of gold coins peaked early in Diwali. Three potential new uses for silver.
Platinum & Palladium Zimbabwe secures another significant expansion to platinum process facilities.
Oil Oil prices are trading below the budgeted levels for several OPEC nations. Politics and economics collide.
Coal Spot met-coal activity improving. WICET start-up is challenging, for all.
Iron Ore Development of iron ore in Mauritania slowed due to low iron ore prices.
Shipping Capesize mkt up!, on strong iron ore demand. Panamax down!
USA – Durable Goods Orders, Orders to Vehicles,
Orders to Computers and Electronics (with emphasis on electronics).
Australia – AUDUSD vs Interest Rates – a bit of history.