Of particular interest this week:

Steel:   output improving slowly.

Gold:  price likely to increase on Fed decision either way.  

Coal   HCC DecQtr negotiations tighten.   

SUMMARY

Copper  MOD – Cu in Botswana.  MOD wants to fee the copper smelter Botswana wants to build. 

Nickel  Philippines mineral policies cracking down on non-compliance, but may delay.  

Zinc & Lead  VXR – Zn results.  MCT – seeking JV for Admiral Bay.  MTB – drill program for Kihabe, Botswana.  

Tin  Indonesia ICDX plans a bonded logistics centre.  Still seeking to ‘control’ tin markets. 

Aluminium  China Hongqiao produced 33% more Al than its combined US rivals in 2015. 

Gold  History says that gold price actually rises more after an interest rate hike than after a cut.  

Platinum & Palladium  Forecast Pt deficit increased by 16%, in its fifth year of shortages. 

Oil  ‘Permian’ tight sands viable at USD 40/bbl, but shale oils need USD 60/bbl. 

Coal  Contracts for coking coal (DecQtr) and thermal coal (Oct annual) under negotiation.   

Iron Ore  Chinese steel demand not as high as expected for the summer, so expect a narrow price range. 

Shipping  Cape-size rates jumped on strong demand. 

General

World Steel – output growing slowly, improving for the past several months. 

Coking coal – key exporters and importers.

USA – Housing Starts – growth slowed considerably.

USA – Industrial Production – slow negative growth continues.