Of particular interest this week:

A number of trends are pointing toward markets bottoming …

Metal price volatilities – increasing from lows – often coincides with increased market activity and price increases.

Copper – China Cu imports increased. 

Coal – Met coal spot prices actually above contract prices. 

Singapore  – Shipping volumes of raw materials into Asia are on increasing growth trends again. 

SUMMARY

Copper  China’s imports up!  Zambia – political risk up, though Zambia is actually winding down recently increased royalties! 

Nickel  QNI as an ATM.  Back to the ‘80s, – warning to corporates re: on excessive ‘dividend’ payments. 

Zinc & Lead  Ironbark Zinc (IBG) a successful raising.  Paroo Stn (Pb) mine on care-and-maint. for the third time.

Tin  Perack State (Malaysia) promoting tin exploration / mining. 

Aluminium  Tasmanian drought driving further power cuts at Bell Bay. 

Gold  Signs (fears) of a potential hard landing in China substantially removed. 

Platinum & Palladium  Political risk thrives – South Africa, Zimbabwe. 

Oil  Doha freeze agreement very unlikely.  This is actually beneficial for the oil-consuming part of the resources industry.  Expect increased volume demand at reduced unit prices.

Coal  Coking coal markets tightening.  Spot prices above  contract.  China supporting local thermal. 

Iron Ore  Price rally – may taper off through the year. 

Shipping  Shipping rates boosted by iron ore volumes, and other bulks. 

General  

Port of Singapore – shipping traffic – encouraging growth trends.

Baker Hughes – World drill rig counts –starting to bottom.

LME metal price Volatilities  – these may reflect markets moving off-bottom.