Of particular interest this week:

Copper  slowing not collapsing

Nickel  track Chinese credit.

Steel – a change of cycle looming.

Platinum – Russia moving to corner.

SUMMARY

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.

General  

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.