Of particular interest this week:
China – population growth and some demographics
USD – a shift in value
Nickel – Some detail on the nickel ore sources for China.
Copper – Antamina workforce to strike indefinitely from Monday 10th Nov.
Nickel – Monsoon coming. The worst of the increase in Ni inventories may have passed.
Zinc & Lead – Zn TC’s still increasing, not yet seeing effects of forecast closures.
Tin – Tin demand is facing some challenges: slow growth and miniaturisation.
Aluminium – Australian aluminium producers to be exempted from RET, blessed by wind and solar bodies.
Gold – Demand in India and China showed signs of strengthening.
Platinum & Palladium Promotion of platinum bridal jewellery in India.
Oil – The oil shale drilling boom in USA is showing signs of cutting back. Rig count is reducing.
Coal – China’s offtake of thermal from Newcastle at record levels. India’s steel potential huge but past growth performance is a perceived hindrance (for imports of coking coal and iron ore). Confidence is growing.
Iron Ore – Vale says iron ore prices of USD 90-100 /t CFR are sustainable. India is beginning to import iron ore!
Shipping – Capesize rates uncertain this week. Panamax rates started to slip Wednesday.
USA – PMI, Construction Spending
USD – strengthened against all currencies (except the CNY).
China – a view on population growth and demographics