Of particular interest this week:

Zinc  price boosted on forecast shortfalls, though latent supply may dampen near term increases.

Oil:  watch latent supply.  Majors are hurting and again talking of production freezes, though in reality the effect may not be meaningful.

Coal  HCC and thermal prices continue to lift.

Australian Mineral Exploration Spending – forecast to improve, now with money to spend.

SUMMARY

Copper  DRC supply disruption.  Chilean strikes.  USA house market strength. 

Nickel  Possible river contamination by Norilsk.  Avebury Ni transaction to resurface as interest increases.

Zinc & Lead  Short covering boosted price.  Stocks and latent supply in the sidelines may dampen further upside response.

Tin  Tin market ‘appears’ tight.  LME on-warrant tin stocks are at their lowest level since 2005. 

Aluminium  Mexican stockpile of aluminium may be of Chinese origin, attempting to bypass NAFTA. 

Gold  More FRB talk of raising US interest rates.  

Platinum & Palladium  Pt market may be tighter than previously thought.  Inventory falls forecast. 

Oil  More ‘talk’ of production freeze agreements.  Major producers are hurting.  Watch latent supply.

Coal  Spot HCC prices up on supply disruptions.  China loosens thermal capacity controls. 

Iron Ore  Miners already paying high royalties.  Pt Hedland ships at record rates.  Prices drift at current levels.

Shipping  Stronger iron ore demand boosted Cape rates. 

General  

Australia Mineral & Petroleum Exploration Spending – expecting improved future growth (based on recent capital raises).

Japan – Industrial Production – slow -ve growth, improving slowly.