Of particular interest this week:
Copper- IMF growth forecasts
Zinc – PHX thick intercepts
Palladium: Sale to Norilsk – funds to Russia
Copper – IMF revised its global growth forecasts downward.
Nickel – China’s Ni imports down in December. Global surplus narrows.
Zinc & Lead – PHX reported thick high-grade Zn intercepts. Paroo Station back on care & maintenance.
Tin – US tin plant to be idled.
Aluminium – Smelter sector inside China is ill-disciplined. Beijing increasing scrutiny.
Gold – Turkey is the world’s fourth largest consumer of gold.
Platinum & Palladium – Palladium sale from the Russian Govt to Norilsk to provide Russia with (needed) funds.
Oil – Change of the regal guard in Saudi Arabia does not change their position.
Coal – Thermal coal producers hopeful on approach to JFY price negotiations.
Iron Ore – Brazil’s iron ore exports surged in December.
Shipping Cape-size freight rates jumped mid-week on iron ore orders. Panamax softened.
World Steel: production growth limited to few countries this month, notably China is +ve.
USA: New Housing Starts – continued growth on trend.
Industrial Production – continued stable growth.
Japan: Orders to Machinery – positive growth, except orders to Industrial Machinery.
nb: new tables of Interest Rates & other Asian foreign exchange data