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.
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.
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.