Of particular interest this week:
Drill Rig Counts & Oil – Production price responses under way.
Singapore ship traffic – container shipping traffic recovering.
Coal – Met-coal negotiations – potential outcomes.
Copper Cu moves into contango. MMI acquires interest in Myanmar Cu project.
Nickel New Caledonia reluctant to accept offered loan terms to rescue SLN’s Ni laterite plant operation.
Zinc & Lead China’s black market Pb. Glencore/Pacorini accused of manipulating Zn market (LME inventories).
Tin Sth Korea adding to strategic stocks. Note Sn projects by SRZ & MLX.
Aluminium Nalco investigating Li-Al alloys.
Gold Soros investing in Au, concerned about global economy.
Platinum & Palladium South African strike, in all kinds of trouble.
Oil Higher oil prices expected to elicit a production price response. (Rig count up in USA).
Coal Met coal negotiations in progress (+ve). Impact of India’s monsoon season. ATU’s progress at Groundhog.
Iron Ore Strong shipment rates ongoing from Pt Hedland. China’s import decline arrested.
Shipping Cape rates picking up.
Baker Hughes – Drill Rig Counts – Some price responses (increases in rig counts).
Pt Hedland – Iron Ore shipments – third highest shipments in May.
Port of Singapore – ship traffic – positive growth and recovery(?) of containers under way. Implications.
USA – Construction Spending – slower positive growth evident.