Of particular interest this week:

Coking Coal: Tightening slightly, with China favouring Australian over other seaborne exports.  

Base Metals:  Price volatilities increasing.  

Steel: – Output still slowing.

Oil: – Traders grasping at any potential for price increases.

SUMMARY

Copper  Zambia’s copper output likely to reduce in 2016.

Nickel  Three Australian & one Brazilian nickel mines suspend operations .

Zinc & Lead  Century shipped its last concentrate.  RVR assays at Thalanga.  China’s imports of base metal concentrates increased in 2015.

Tin  China’s tin producers offer to cut back (if the government buys their stockpiles).

Aluminium  With Chinese capacity cuts, (in any commodity) it’s generally more prudent to wait for actual evidence than to assume what’s announced will actually happen.

Gold  India’s gold imports forecast to still increase in 2016 despite success with GMS and SGBS.

Platinum & Palladium  Global Pt market supply forecast tight for the next six years.

Oil  Rumours of a Russia-Saudi agreement leapt upon by traders.

Coal  Coking coal market may be tightening (a little) for certain quality products.

Iron Ore  Cyclone headed for NW WA, providing a brief stay on deliveries.  Brazilian Port of Tubarao re-opened.

Shipping  Shipping still yet to deal with excess supply of ships.

General

China  – Coking Coal Imports – down though Australian coal favoured more than others’.

LME – base metal price volatilities – increasing (a little).

World Steel (Dec) – production growth still on downtrend(s).

USA – Durable Goods, Vehicles, Computers & electronics orders.

Japan – Industrial production.   – stalled.