Of particular interest this week:

Nickel: – supply tightening, demand growth continues.  (… just need to keep whittling the stockpiles down).

Oil:  Venezuela!

Iron ore, Steel and China  –  Surge, a challenge to the forecasts ?  

SUMMARY

Copper  Chilean ports closed due to big waves. 

Nickel  Potential mine closures in the Philippines.  Global consumption to increase more than supply.

Zinc & Lead  Prospects encouraging: Consolidated Zinc (CZN) & Inca Minerals (ICG).  Global Zn surplus falling. 

Tin  South Korea stocking up on tin (and copper). 

Aluminium  Oversupply will dampen price increases, unless metal demand recovers further in SE Asia.  

Gold  Price is see-sawing weekly but the trend appears to be upward.  

Platinum & Palladium  Platinum demand has increased and is forecast to continue to increase. 

Oil  Venezuela’s oil production falling.  Its decline rate is accelerating.

Coal  Anglo’s Grosvenor coking mine produced first coal.   Coking prices are increasing.

Iron Ore  Pt Hedland record shipments.  Chinese steel avg daily output up yr-on-yr.  

Shipping  Panamax rates boosted by grain season. 

General

Port of Singapore  – Bulk carries and tanker growth remains strong.

Port Hedland  – iron ore though put at record levels. 

USA  – Industrial production & capacity utilisation – improving – a bit.