Of particular interest this week:

CRU:  The global economy is still fairly fragile.  Though outlook for most commodities is improved by 2019-20, with some achieving earlier recognition.  Moody’s have raised their outlook for commodities.

Steel:  weak yr-on-yr growth for July. 

SUMMARY

Copper  Moody’s raised outlook for global base metals from negative to stable. 

Nickel  Price down as impact of Philippine crackdown is likely to be less than feared.  

Zinc & Lead  Marindi Metals (MZN) increases Zn exposure.

Tin  Alphamin’s proposed Bisie mine, against the odds. 

Aluminium  China plans to increase domestic Al demand by 18% within 3 yrs.  

Gold  Indian festive season contributes to improved (domestic) gold prices.  

Platinum & Palladium  Sibanye Gold is considering the future of its platinum mines. 

Oil  Saudi and OPEC might propose a production freeze, which may have little effect. 

Coal  Spot HCC prices higher still.  Shenua’s Watermark project under pressure. 

Iron Ore  Samarco’s mine to restart mid-2017.  Iron ore prices weakened on slow Chinese capacity cut plans. 

Shipping  Baltic indices increased this week. 

General

World Steel:  positive annual growth, but slower rates in July than June.