Of particular interest this week:

Copper:  Power generation issues and supply.

LME: – contango & backwardation trends

SUMMARY

Copper  Power generation issues contribute to disruptions to copper supply.

Nickel  Jinchuan Group bent on securing raw materials, to support China’s ongoing urbanisation.

Zinc & Lead  Zn – Tarago / Woodlawn to reopen after two decades.  Pb – “the psychological typhoon eye effect”

Tin  Indonesian government restricts forms of Sn that may be exported.

Aluminium  Rusal reduces its global aluminium demand forecast.

Gold  Gold price fell.  Demand increased.

Platinum & Palladium  Pt &Pd prices down markedly, likely exaggerated in this small market.

Oil  Indonesia to rejoin OPEC.  IEA outlook is for a slow recovery of oil prices.

Coal  Floor for Aust thermal coal prices.  Australian HCC export volumes have held up this year.

Iron Ore  Reduced steel consumption in China.  Iron ore price support ahead with restock for Chinese NY.

Shipping  Capesize freight rates lifted.

General  

LME Contango (Backwardation) – current trends