Of particular interest this week:

Commodity Price Volatilities – driven by the unexpected, rather than by speculators.

OECD Composite leading Indicators – emerging economies to fare better than the advanced.

Oil –Sheik Yamani’s advice, and implication. 

SUMMARY

Copper  Chinese momentum expected to continue, tempered by crackdowns.  Freeport McMoRan in Peru.

Nickel  France to lend USD 300m to New Caledonia to support Ni-laterite operations.  

Zinc & Lead  Zn – MMG, CZI, RVR – plans to  discover & develop.  Pb – 2015 closures of capacity.

Tin  Pt Timah significantly reduced tin output in Mar16Qtr.  

Aluminium  Rusal adds new smelter production to its totals. 

Gold  Prices surged on FOMC stall.  

Platinum & Palladium  Russia & Zimbabwe in joint Pt production plans.  Russia positioning to dominate Pt industry.

Oil  Saudi taking Sheik Yamani’s advice (given in 2000). 

Coal  Coking coal price increase caught some buyers short.   

Iron Ore  Chinese steel production rate levelled off mid-April. 

Shipping  Improvement in rates. 

General

Volatility of Commodity Prices

OECD – Composite leading Indicators – emerging economies outlook is better than advanced.

USA – Orders to Durable Goods, Vehicles, and Electronic Products and Computers.