Of particular interest this week:
Drill Rig Count – US gas vs oil rigs
Copper – market in balance 2016-17
China – CNY devaluation looming. Likely to reflect the majority of its TWI currency makeup, not just the USA. Get it over with.
Copper Global Cu market forecast to be in balance in 2016-17.
Nickel Ravensthorpe Ni reduces workforce but plans to continue production after April maintenance.
Zinc & Lead IBG has received a draft Benefit Agreement for the Citronen project.
Tin Alphamin’s funding on track for its DRC Bisie tin mine.
Aluminium Bell Bay hydro-power shortages. Rusal plans to start its new Boguchansk smelter.
Gold Despite falls in gold price through 2015, miners have increased free cash flow.
Platinum & Palladium Pt recycle rates reduced with reduced steel prices.
Oil Oil price rally followed ‘bottom’, but may have been a bit too much at once. LNG prices buffered.
Coal Interest in Australian coking coal has picked up. Supply has tightened.
Iron Ore Last week’s iron ore price rally hit a wall mid-week. Chinese production cuts may exceed targets.
Shipping Shipping rates increased.
Baker Hughes – World Drill Rig Count: continuing to slide, but US gas rigs may be at bottom.
China – CNY: expected to devalue further, but quickly or slowly, is not known.
OECD Composite Leading Indicators: Some promise of improvement, but a bit of a mixed bag.