Of particular interest this week:

Oil:  Cash costs for Eagle Ford shale projects are surprisingly competitive (at the current oil prices).

Currency Australian TWI adjustments.  China increased trade weight, as did several SE Asian nations.

The falling AUD is doing its customary role of buffering falling USD prices.

 SUMMARY

Copper  – Southern Copper forecasts improved Chinese demand for copper.

Nickel  – Vale seeking improved Ni prices prior to listing its base metal group.

Zinc & Lead – Aurelia Metals opened its Hera Au-Zn-Pb mine.

Tin  – Tin demand not much affected by changes in construction outlook.

Aluminium  – China’s alumina refiners increasing spot rates.

Gold  – Gold forward-offered rates to stop next month.  Mostly affects banks.

Platinum & Palladium  –  Supply and Demand – Jewellery and auto-catalyst demand  forecast to increase.

Oil  – Cash costs of Eagle Ford shale play are competitive.

Coal  – Dec15-Yr thermal contracts may be index linked.  Recent AUDUSD falls are buffering prices.

Iron Ore  – Port Hedland shipments in November reduced.  Vale warns that prices need to pick up  in 2015.

Shipping  – Shipping rates under pressure.

General

Australia TWI Weights (annual adjustment)

USA – Purchasing Managers’ Index – positive growth

USA – Construction Spending – good growth reported.

nb:  new tables of Interest Rates & Asian foreign exchange data (p.26)