Of particular interest this week:

China:   entry into IMF SDR,  Output of industry – best growth is in downstream products.  Golden Week Holidays.

Copper:  multiple factors actively affecting this market.

Oil:  OPEC et al agreement to agree, but no firm (dis-)agreement(s) till end of Nov.  (two months).

Coal   HCC Dec Qtr negotiations ongoing.  Markets tightening

Nickel .. Philppines mine audit outcomes in two weeks.

SUMMARY

Copper  Storms, strikes, wage negotiations, resumption of operations … all current Cu market factors. 

Nickel  Philippine mines audits put 75% of its mines on notice.  Decisions in two weeks.  

Zinc & Lead  China & India to increase galvanised steel for autos.  Primary lead supply is tight in China.

Tin  Six factors currently affecting tin price. 

Aluminium  Outlook for India to embrace aluminium use, on a large scale. 

Gold  Several factors that are impinging on the sentiment driven gold price. 

Platinum & Palladium  Strikes in South Africa tighten supply (again). 

Oil  ‘Agreement to agree’ from Algerian meeting, but firm amounts to be decided end of November. 

Coal  Benchmark HCC and thermal negotiations continue.  China increased thermal coal work days.   

Iron Ore  Price steadied ahead of Golden Week holidays. 

Shipping  Capesize rates up on demand, but Index off recent high. 

General  

China:  Entry for the CNY into the IMF SDR

China:  Output of Industry – Selective positive growth. 

USA:  Durable Goods, Vehicles, Electronics – growth rates down.

Japan:  Industrial Production – first positive growth for a year.

Germany: Industrial Production, Durable Goods and Construction – slow growth in IP.