Of particular interest this week:

Oil:  – a Russian opinion on outlook

Singapore:  shipping conditions improving

 

SUMMARY

Copper  Concerns re: Chinese growth dampened Cu prices.  However Peru’s exports down on strikes.

Nickel  POS delays restart of Lake Johnson mines, due to low prices.

Zinc & Lead  ILZSG – Zn surplus recorded for 5 mo to May.

Tin  Indonesians confident that exports will fall in August.

Aluminium  Inventories in Japanese ports fell, after more than a year.

Gold  Investors letting go of gold on expectations of interest rate increases.

Platinum & Palladium  Amplats hopeful of a spinoff of South African mines.

Oil  A Russian view of market outlook.

Coal  Steel production down ó spot met coal prices down.  Thermal market remains under pressure.

Iron Ore  RIO may overtake Vale as largest producer.

Shipping  Volumes shipped appear to be trending upward.

General

Port of Singapore – Shipping improving on bulks and tankers.

USA – New Housing Starts – volatile but positive.

USA- Industrial Production – slower growth.

USA – Capacity utilisation – slowing.