Of particular interest this week:
Steel – yr-on-yr flat output, but daily rate increasing.
Oil – US banks tighten credit – alternative (debt) mkts emerge.
Nickel – BHP to revisit WA nickel. The rise of Russian exports.
Copper Codelco rethinking key development projects, expecting Cu prices to stay low.
Nickel BHP evaluating Venus Ni deposit in WA. Is this a change of direction? Deficit forecast Mar16Qtr.
Zinc & Lead Rally in Zn prices has prompted a price response. Global deficit forecast this year.
Tin Bisie (DRC) constructing infrastructure.
Aluminium Overall, an improvement in US demand.
Gold USD gold price slipped on economic data. AUD gold price is near GFC highs.
Platinum & Palladium Strikes started in Sth Africa. WPIC increased its Pt deficit forecast.
Oil US bank credit to producers tightened. Producer selling debt to optimistic investors.
Coal Spot Aust HCC prices reduced on limp ex-China demand. Thermal prices may rise.
Iron Ore Expect the recent rally in iron ore prices to be tested by supply growth and uncertain demand .
Shipping Freight rates in Asia, stable this week.
World Steel – ~flat yr-on-yr, but avg daily rate increasing.
USA – Durable Goods, Vehicles, Computers & Electronic products – slow growth.
Japan – Orders to Machinery – varied by segment but overall flat.