Of particular interest this week:
Singapore : Container shipping has recovered. Bulks down.
China – Industrial Output: Detail shows bulks output reduced, but finished product and high-tech product growth is strong. There have been a number of comments that China is further down the path of moving to a consumer economy than many understand.
Oil: Doubt there will be any meaningful actual outcomes. Quotas are not able to be policed and there is little punishment for cheating (except ultimately through price).
Copper Trials of twisted pair copper cable delivering faster than avg broadband speeds. Early days yet.
Nickel Bulls & Bears – conflicting outlooks for nickel.
Zinc & Lead Russia has the largest Zn Reserves, but only small share of production. Lead mkt in deficit.
Tin Man Maw mine in Myanmar depleting current Resources and output falling. No modern exploration (yet).
Aluminium New fears of restarts of Al smelting production.
Gold Perth Mint refining dore in India?, “testing” the Indian excise rebate scheme.
Platinum & Palladium AMCU wage deals achieved in South Africa.
Oil Oil prices up on hopes of an OPEC/Russia agreement. (good luck there for agreement or action).
Coal HCC settlement confirmed. Spot prices still high. Indonesia targeting illegal miners.
Iron Ore China working through (>80% of) steel capacity reductions.
Shipping Panamax demand supported by Argentine grain season.
Port of Singapore Shipping: Container traffic has recovered. Bulks down recently.
USA New House Starts: sharp fall.
USA Industrial Production: slow negative growth continues.
China – Industrial Output: Strongest growth is in Li-ion batteries and mobile phones.