Of particular interest this week:
USD Trade Weighted Index: Comparison vs commodity prices.
Zinc: TC RCs reduced
Iron Ore: Price up-tick despite reduced Chinese steel output.
Oil: Expect low prices for longer
Steel: Three countries account for global output growth.
Copper Increased Cu production forecast from Peru and Ecuador.
Nickel Ni laterite – New Caledonia, Palmer.
Zinc & Lead Chinese Zn output declines. EC clears Trafigura’s holding in Nyrstar.
Tin WBMS – Sn deficit Jan-Oct 2015.
Aluminium Optimism re: China stimuli.
Gold Price outlook (in USD) is uncertain, and is contingent on USD vs other catalysts.
Platinum & Palladium Zimbabwe’s foreign ownership (indigenisation) laws threaten investment flows.
Oil Prices expected to average USD /bbl for 2016, (and longer).
Coal Holiday periods slowing trade activity this week.
Iron Ore Iron ore price lifted above 40 USD/t. Supply tightened even as Chinese steel mills cut production.
Shipping Softer trade levels in Capesize countered by Panamax demand.
USD Trade Weighted Index – trends with commodity prices
World Crude Steel (Nov data). Three countries have driven global supply growth since 2008.
USA: Orders to Durable Goods, Vehicles, Electronics & Computers
Japan: Electricity Demand: