Of particular interest this week:

China – industry output

Oil – Canadian challenges. 

Copper – watch inventories.

SUMMARY

Copper  LME Cu inventories forecast to jump by 50% in July, as Peru’s mine supply increases. 

Nickel  IPT to drill Mulga Tank (Ni) project.  

Zinc & Lead  Variscan Mines (VAR)’s Maiden VMS Resource for Porte-aux-Moines.  Pacorini name change.

Tin  Investors into Myanmar need to re-evaluate their relationship(s) with the prior regime. 

Aluminium  Bauxite supply to China is still evolving. 

Gold  China’s resources burn rate is high.  An efficient domestic exploration industry is needed. 

Platinum & Palladium  Platinum jewellery gaining favour in India. 

Oil  Canadian oil-sands producers face serious challenges.  OPEC expects balance by year end.

Coal  Indian steel mills contract increased HCC volumes, prices yet to be settled.   

Iron Ore  Price steadied near USD 50/t CFR.  Expect a (northern) summer slowdown ahead.

Shipping  Increased capesize trading activity in the Pacific. 

General

World Energy consumption:  an update on consumption patterns.

USA – New House Starts:  positive growth continues.

USA- Industrial Production & Capacity Utilisation:  both still declining.

China – Output of Industrial & Energy products:  mixed results, with ? a leaning toward consumption.