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.

 SUMMARY  

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)!