Of particular interest this week:
Copper – the China surge
Aluminium & Bauxite – Smelters sourcing own bauxite & changing Chinese import patterns.
Oil – Iran struggling to achieve pre-sanction sales levels.
Singapore – Container traffic!
Steel – Emerging growth offset Chinese decline.
Copper China’s recent Cu export surge may not be all that unusual. Delivery against short positions?
Nickel MLX received environmental approvals for its Wingellina Ni-Co project.
Zinc & Lead Zn supply shortfall remains a compelling factor. Refined Pb mkt in surplus for yr-to-April.
Tin ANW recommissioning its Granville Sn project in Tasmania.
Aluminium Emirates Global Aluminium (EGA) to mine bauxite in Republic of Guinea, for own downstream.
Gold Price is up, but more than 60% of global commodity consumption comes from Asia, not Europe.
Platinum & Palladium South Africa (SA) in strife. Consider new Pt supply (prospects) outside SA, Russia & Zimbabwe.
Oil Iran appears to have difficulty in achieving pre-sanctions levels of oil exports (sales).
Coal Metallurgical coal Sept Qtr price settlements – up! First consecutive increase since 2011.
Iron Ore Price holding steady above USD 50/t CFR.
Shipping Brexit – implications for UK shipping.
Bauxite – Chinese imports. Market may be finding a floor.
Port of Singapore – shipping traffic. Containers back in positive growth!
World Steel output – flat growth for May. Emerging contribution offset China decline in output.
USA – Durable goods, Vehicles & Electronics orders. Positive growth though small for vehicles.