Of particular interest this week:

China – Industrial & Energy output :   Looks like transition to consumer economy is well under way.

Coal & Iron ore:  China’s steel output expected to weaken during winter – this is a normal seasonal effect. 

Copper:  Two markets here:  the metals market and the tighter Cu concentrate market. 

SUMMARY  

Copper  China trying to cool its property market.  Cu concentrate market tighter again according to TC/RCs.

Nickel  Sipa Resources (SRI) Ni intercepts at Akelikongo in Uganda.  

Zinc & Lead  World Zn mine production to fall in 2016 & increase in 2017.  South Africa – Mining Charter issue.

Tin  The global Sn market, a small 378,000 tonnes in 2016.   

Aluminium  Potential for Iran to develop smelting capacity, adding to mid-East capacity

Gold  Price down on    US Fed interest rate expectations and loss of fiery Trump rhetoric.  

Platinum & Palladium  Pt market could move to surplus, after six yrs of deficit. 

Oil  Obama Admin bans offshore Arctic oil exploration. 

Coal  China’s steel output expected to weaken in winter.  Improved Chinese thermal output.   

Iron Ore  China attempting to put limits on high iron ore prices.  Prices expected to trend lower. 

Shipping  Conditions firmed for both Capes and Panamax vessels. 

General 

Port of Singapore:  shipping traffic has positive growth in all main segments.

China – Output of Industry & Energy:  growth supports concept of moving to consumer economy.

USA – New Housing Starts, Industrial Production, Capacity Utilisation.  Sub-optimal growth.