Of particular interest this week:
Copper slowing not collapsing
Nickel track Chinese credit.
Steel – a change of cycle looming.
Platinum – Russia moving to corner.
Copper Chinese demand growth is slowing but not collapsing. Not as bad as widely assumed.
Nickel Analysts should track Chinese credit, not LME inventories as a primary driver of imports.
Zinc & Lead Metalicity increased the target strike area at the Admiral Bay deposit.
Tin WBMS reports Sn deficit. Strikes under way at Peru’s Toromocho Cu-Mo mine.
Aluminium With half the world’s Al smelters unprofitable, forecasts are for even lower Al prices.
Gold Three factors driving gold prices this week.
Platinum & Palladium Russia may be working toward cornering the global Pt market.
Oil Prices not discussed at major oil producers’ meet. Venezuela proposing a ‘price’ summit.
Coal Teck has no plans to reduce met-coal output. Lower Chinese domestic thermal prices affect mkt.
Iron Ore China’s estimated iron ore production is significantly reduced.
Shipping Rates in Asian dry-bulk markets reduced this week.
World Steel Production – September – avg daily production increases for the world, and in only a few countries.
USA – New Housing Starts – a strong September.
Japan – Electricity Demand – lower summer temperatures reduced cooling requirements.