Of particular interest this week:
China: – finished products showing more growth than output of raw materials – progress toward a consumer economy
Oil: oil is in a tenuous state, with ample latent supply in some countries and potential for substantial disruption in others, and an outlook for long term low prices.
Coal – HCC and thermal prices performing.
Copper Cu prices underperforming its peer metals Outlook for recovery in 2018.
Nickel Hugh Morgan – Ni discovery in Nigeria.
Zinc & Lead Zn price rising as shorts close out. China to standardise recycling of Pb-acid batteries.
Tin SRZ (emerging) & MLX (producer). Sn mkt currently tightening.
Aluminium RIO’s aluminium smelters on market. Possibly also the profitable alumina refineries.
Gold Australian gold production at 15 yr high.
Platinum & Palladium South African wage negotiations could lead to strikes.
Oil Several factors affecting oil price outlook. … incl North America rig counts.
Coal HCC spot prices up strongly on broad-based rally. Thermal responding to Chinese action on oversupply issues.
Iron Ore Iron ore price muted by mill closures for G20 clear-skies campaign.
Shipping Cape rates up Panamax down.
USA – Electricity end-use – as an indicator, do not look to USA for growth in demand for commodities either directly or indirectly.
USA – Durable Goods, Vehicles, Electronics & Computers
USA – Purchasing Managers Index
China – Output of Industry – finished products showing more growth than output of raw materials – progress toward a consumer economy?