Of particular note this week:

Port of Singapore:  Positive growth in shipping speaks to economic activity in Asia-Pacific.

Oil:  What is the right way to think about the long term price of oil?

Iron ore:  Chinas’ steel output cutbacks on track, though some capacity is being replaced. 

SUMMARY  

Copper  Supply-side disruptions continue. Demand-side demand from China being observed closely.

Nickel  Cu, Al, Ni to benefit from EV mkts.  Ni demand should jump the most.

Zinc & Lead  Zn’s deficit is increasing yr-on-yr.  Ice-cores show ancient background airborne Pb levels at zero.

Tin  Prices may be influenced by approval of new Chinese policy.

Aluminium  Bauxite pricing is adjusting to seaborne spot markets, however is not as simple as for alumina.

Gold  India is working on new policies to improve Au mkt transparency.

Platinum & Palladium  South African AMCU negotiating for a 50% pay rise.  … says they do not plan to strike.

Oil  What is the right way to think about the long term price of oil?

Coal  LVPCI and SSCC June17Qtr settlements.

Iron Ore  China’s steel consumption growing, though planned steel production cut-backs under way.

Shipping  Capes’ prices improved. Panamax flat.

General  Port of Singapore: – Shipments up for containers and tankers, though down for bulks.

Japan- Orders to Machinery:  Overall positive growth.