Of particular interest this week:

China CNY –weighted Index:  further devaluation indicated.

Nickel:  Ni demand fed by unexpected stockpiles.

Base metals:  World mine output, metal production and metal consumption for each metal.

SUMMARY

Copper  China’s SRB plans to buy / stockpile copper metal to support smelters, in addition to smelter cuts.

Nickel  Ni demand  grew in 2015, but growth fed from larger than expected stockpiles.

Zinc & Lead  ILZSG forecasts modest Zn deficit in 2016.  Chinese levy on Pb-acid batteries in 2016.

Tin  Indonesian Sn exports fell markedly in 2015.

Aluminium  Noranda Aluminum to idle two potlines in Tennessee.

Gold  Gold price ticked up but safe haven rallies are usually short-lived.  US jewellery imports increased.

Platinum & Palladium  Auto sales are predicted to be robust in 2015.

Oil  Aramco may list!  It will need to have its Reserves Certified!

Coal  USA cuts met-coal output.  Australian exports displace US material in Turkey.

Iron Ore  China’s steel market expected to improve in 2016.  Pt Hedland Shipping steady.

Shipping  Rhine River levels up.  Baltic activity slid through the end-of-yr period.

General

Baker Hughes – Rig Counts (Dec)

China – CNY weighted index – some indications for further devaluation.

USA – Construction Spending – strong growth.

Japan – Orders to Machinery  – strong (seasonal) growth in selected segments.