Of particular interest this week:

Nickel:   Philippines closed 21 mines.

Gold:  Jewellery demand changes.

Oil:  Iranian tenders for projects will be made more difficult with Trump’s position on increased sanctions against Iran, (which are possibly in conflict with UN resolutions).  

SUMMARY  

Copper  Potential supply disruptions at Escondida though smaller Quebra Blanca settles.  PBOC action.

Nickel  Philippines’ government closed 21 mines.  Ni price jumped.  

Zinc & Lead  Trevali and Sandvik reviving Caribou.  PBOC action (raised rates).

Tin  Malaysia optimistic.  A summary review of tin in 2016 & 2015.

Aluminium  India to protect domestic Al industry. 

Gold  Jewellery for Dec Qtr up strongly though 2016 annual demand down.  

Platinum & Palladium  Indaba draws a crowd but not cheque books. 

Oil  Iranian tenders for oil & gas projects extended. 

Coal  Glencore prepping thermal contract pricing.  Met coal eased for Golden Week. 

Iron Ore  Seaborne market lull during Golden Week. 

Shipping  Capes down, Panamax up. 

General 

USA – PMI: positive.

USA – Orders Durables, Vehicles, Electronics, Computers, Construction Spending:  good.

Japan – Industrial Production:  Best in two years.

Japan – Orders to Machinery:  overall positive.