Of particular interest this week:

Steel  Global output increasing. It is not just China.  Most non-Chinese growth appears to be from emerging economies.

Tin  (Comment affects all metals)  Chinese policy shifts in 2016.

Oil:   OPEC’s inaugural compliance meeting gets under way

SUMMARY  

Copper  Chinese companies reported to have stepped out of the market to address pending 2016 loans. 

Nickel  Philippines and Indonesia remain centre-stage in the Ni market.  

Zinc & Lead  Zn mkt in deficit for 2016.  Much of this on supply cuts.  USA FDA guidelines on Pb in lipstick.

Tin  Some shifts in Chinese policies (affects all metals). 

Aluminium  New orders of USA Non-defence aircraft for November down heavily. 

Gold  It has been an erratic year for gold.  Companies sold down though most still fundamentally sound. 

Platinum & Palladium  Global Pt (in ore) output to increase at cagr 1.7% to 2020. 

Oil  OPEC monitoring committee – inaugural meeting gets under way. 

Coal  Christmas break and end of year activity slowed.   

Iron Ore  Steel and iron ore prices in China showing seasonal (winter) weakness. 

Shipping  Cape and Panamax rates slowed. 

General 

Steel – global output:  continuing positive yr-on-yr growth from both China and world-ex-China.

USA Durable Goods, Vehicles, Electronic products – slow, variable growth