Of particular interest this week:

Australian Exploration spending.  

Copper:  disruptions and impatient investors. 

Nickel:  Demand for EVs vs Stainless . 

Japan:  recovering.

SUMMARY  

Copper  Disruptions abound, but (impatient?) investors dumped metal back into the LME Asian warehouses. 

Nickel  Investors should look for stainless demand rather than EV’s for significant nickel demand growth.

Zinc & Lead  RVR progressing toward a re-start at Thalanga.

Tin  The LME tin contract remains a very tight space. 

Aluminium  Bell Bay smelter is extremely concerned about gas (power) pricing.   

Gold  Odds outlined for four Fed rate rises in 2017.  Such are the issues when economies recover. 

Platinum & Palladium  WPIC expects the Pt market to post a deficit in 2017. 

Oil  Oil prices down on increased US crude stockpiles.  (Not unexpected really).  US rig data – counts up!

Coal  India’s crude steel production outlook up.  JPU negotiations under way.   

Iron Ore  Iron ore prices in a good spot for miners and smelters at present.  Pt Hedland shipping data. 

Shipping  Cape and Panamax rates up, on iron ore and agriculture respectively. 

General 

Australia – Mineral Exploration Expenditure:   spending is recovering slowly overall, mostly awaiting clearer signals before expanding.  However selected commodities in some states have performed strongly.

Japan LNG prices:  LNG catching up to the average oil price increases. 

Japan Industrial Production:  Slower than recent growth rates, while still positive growth.

Japan Orders to Machinery:  Total orders record positive growth.