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.
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.
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.