Of particular interest this week:
Shipping: – The first freight train to travel the old Silk Road arrived in Tehran in mid-February
Nickel – Philippines
China – efforts to reduce oversupply of coal and iron or
Copper Glencore has stopped its copper operations in Zambia.
Nickel Philippines steps up campaign against irresponsible miners. 6x mines suspended.
Zinc & Lead Zn deficits forecast for this and next year. Open interest is high. Pb-acid batteries need to step up.
Tin PT Timah turns to its subsidiaries (including hospitals) for profits compared to core (Sn) business.
Aluminium Global refining cuts needed to strengthen alumina prices.
Gold Au price drivers this week: US jobs, UK interest rates, Japan stimulus.
Platinum & Palladium Lonmin concerned about several potential disruption factors that may impact production.
Oil Russia recently sold more oil to China than the Saudis, and could continue.
Coal Met coal tight. China concerned about slow progress in reductions to over-capacity. + Hay Point*
Iron Ore China focussing on retiring idle and obsolete manufacturing capacity. + Pt Hedland shipping.
Shipping The first freight train to travel the old Silk Road arrived in Tehran in mid-February.
USA – Purchasing Managers’ Index – on balance things are improving.
Baker Hughes rig-counts: increases based on oil price changes two months old.