Of particular interest this week:

USD TWI – correlations with commodity prices.

Oil – the original price war.

Coal – settlements and tight coking markets. 

Gold – WGC comments on NIRPs – predictable.

SUMMARY

Copper  Chile’s Cu concentrate output increased yr-on-yr.

Nickel  Some more sulphide capacity reductions, amid capital raisings.  WSA, PAN, WCN, MBN.

Zinc & Lead  Red Dog mine’s Zn output reduced and forecast to continue reducing.

Tin  Sn prices in Shanghai leading those on LME.  China effectively is the swing Sn producer.

Aluminium  China’s factory sector reported positive growth for the first time in nine months.

Gold  World Gold Council comments on NIRP (negative interest rate policies).

Platinum & Palladium  Impala Platinum to use Fuel Cells to power its refinery in South Africa.  (Yes, fuel cells use Pt)

Oil  The original oil price war.  A strong USD expected to dampen (USD) oil prices for a while.

Coal  SSCC settlements.  Coking coal markets tighten.  JFY thermal settlement expected to increase.

Iron Ore  Prices off from last week but holding firm.  Outlook weighed upon by oversupply.

Shipping  Cape rates stable on iron ore interest.  Panamax rates reduced.

General

USD TWI – correlations with selected commodity prices … not consistently good.

USA PMI – strong March data.