Of particular interest this week:
China – Industrial Output– check the changes and trends.
Oil – a ‘good’ disruption – Nigerian supply.
Zinc: positive outlook by Glencore. Talks its own book (& controls a large LME inventory).
Copper – mixed signals.
Copper mixed signals – China dampens speculation. Goldmans calls Cu down. ICSG declares a shortfall for Cu.
Nickel Finnish govt supporting its Terrafame Mining’s Ni mine – so far.
Zinc & Lead Glencore’s Zn outlook positive. Deficits returning. MZN drilling at Newman. Pb in surplus.
Tin Indonesian supply to increase as smelters paperwork is lodged. Demand growth slow.
Aluminium Chinese demand seen expanding, production moderating.
Gold Demand jumped, but mostly in paper (EFT’s). Jewellery & Central Banks’ demand down.
Platinum & Palladium Pt in marginal surplus. Pd deficit easing.
Oil Disruption to Nigerian supply a key to price increases. Canada back on line soon.
Coal Peabody – Bowen Basin sales. China thermal mkt balance by 2017. Aust HCC spot prices down.
Iron Ore Fundamentals driving prices more than speculation. Also see China’s auto output (down).
Shipping Cape rates down. Panamax (heavy rain in Kalimantan).
Japan-LNG price: gapped down.
China – Industrial Output: mixed growth results, depending on the segment.
USA – PMI segments: travelling OK, in the longer term sense.