Of particular note this week:
World Population: This is what drives demand for resources.
Oil: price dribbling down as actions of OPEC et al fail to stem production (from others).
Copper: disruptions continue.
SUMMARY
Copper Copper supply is somewhat concentrated, which makes it sensitive to disruption.
Nickel Avoid picking up nickels in front of a steamroller, … but this time … there is promise.
Zinc & Lead VMC’s Zn intercepts at Pincher Well. The Paroo Stn mine many get a Pb smelter.
Tin Looks like China has really dropped its export tax on tin.
Aluminium USA grandstanding on Chinese Al output looks, in all practicality, to have little effect.
Gold A quiet week for Au. Fed outlook still likely to raise rates on a strengthening US economy.
Platinum & Palladium South Africa’s new mining charter makes a politically risky mess of the Black Empowerment acts.
Oil Prices dribble down on the ineffectiveness of OPEC and friends. French carbon grandstanding.
Coal Increased Chinese interest in met and thermal coals.
Iron Ore WA’s iron ore tax policy likely to be damaging to WA political risk standing and state credibility.
Shipping Panamax rates firmer on Chinese demand. Capes down on reduced demand for iron ore.
General World’s most populous nations: – those with growth will drive demand for commodity demand.
World Steel Output: May had positive yr-on-yr growth but slower growth in May then April.