Of particular interest this week:

 Gold  Gold prices increased more often on Fed interest-rate hikes than on cuts last 30 years.    

Copper:  Zambian political (risk) policy changes likely to upset (tighten) the Cu concentrate market.

Zinc & Lead  “tightness is starting to flow through the entire supply chain … beginning to reach the metal mkt”.  

Oil:   It is a significant agreement, but will it stick?.

 SUMMARY  

Copper  Changes in the global Cu concentrate market, triggered by Zambian govt policy change. 

Nickel  The Philippine government will suspend more (Ni) mines.  

Zinc & Lead  “tightness is starting to flow through the entire supply chain … beginning to reach the metal mkt”.  

Tin  The difficulties facing multinationals in monitoring supply chains that have grown … complex. 

Aluminium  The Portland (Vic) smelter has a frozen #1 potline, plus Vic govt electric subsidy threatened. 

Gold  Gold prices rose more often on Fed interest-rate hikes than on cuts last 30 years.    

Platinum & Palladium  The Pt mining industry is not mining anywhere near forecast demand rates. 

Oil  It is a significant agreement, but can it stick?  

Coal  Met coal Mar17Qtr talks start next week.  If it starts raining (heavily) in Qld, all bets are off.  

Iron Ore  Prices firm yr-to-date.  A lot will depend on the Chinese government’s take on stimulus going fwd. 

Shipping  Cape freight rates remain healthy. 

General 

Tungsten – New offtake contracts by Almonty suggest a firming market. 

USA – ISM-PMI:  encouraging.

USA – Construction Spending: non-residential spending is back to pre-GFC levels.   

Japan – Industrial Production:  third positive month.