Of particular note this week:
Copper: overview with recently released WBMS data. Plus market tightening with Escondida production shortfall.
Nickel – Philippines decisions likely in August.
Iron ore: quick turnaround into a bull market according to some.
Copper Escondida’s Cu output down heavily in the first four months of 2016.
Nickel Philippines’ Cimatu is reviewing Lopez’s decisions. Outcomes in August.
Zinc & Lead Macquarie’s stars are aligning for Zn. Pb in deficit.
Tin National mining strike (all commodities) in Peru from 19 July.
Aluminium China is concerned that Washington is playing loose with international trade laws / agreements.
Gold Central banks scaling back stimulus programs and increasing rates as economies improve.
Platinum & Palladium Amplats reports a heavy drop in profits. Costs have increased, prices have not.
Oil US rig count stalls. However watch the “Caixin manufacturing PMI” instead, for guidance.
Coal Peabody trying to settle Sep17Qtr LVPCI in absence of a current HCC settlement.
Iron Ore Iron ore entering a ‘bull’ mkt after only three months, on an improved Chinese economy.
Shipping Capes softened, while Panamaxes remained strong.
General Copper: production through to consumption data.
Japan: Industrial production- (good)!
USA: Industrial Production (good), Capacity Utilisation (varied), Housing Starts (poor), Durable Goods (good), Vehicles (good), Electronics (flat).
Germany: Industrial Production, Durable Goods, Construction – (good)!