Of particular note this week:
Updated pinch point graphs for Zn, Cu & Ni. Getting tighter.
Oil – prices fell despite Hurricane Harvey approaching Texas.
Coal – Coking coal demand outlook firm in the near term at least.
Steel – continuing to grow world output. Chinese output at record levels. What does this mean for iron ore prices? Perhaps the major producers’ plans are correct?.
Copper OZL’s Carapateena (Cu) project has a green light. To be funded from cashflow!
Nickel Vale may be putting its Voisey Bay underground plans on hold.
Zinc & Lead MMG plans concentrate production from Dugald River from late 2017. China’s enviro-inspections.
Tin Sentiment has been muddied by the various (export) policy backflips by Indonesia.
Aluminium ABX shipping more bauxite from Bell Bay (Tas). Chinese output reducing, supporting this market.
Gold Yellen’s Jackson Hole comments were that the financial system is safer now than a decade ago.
Platinum & Palladium Amplats is budgeting for a Zimbabwean precious metals smelter.
Oil Hurricane Harvey approaches the US south coast, yet the oil price reduced this week.
Coal Outlook for coking coal prices remains strong near term. Expect Sept17Qtr settlement next week.
Iron Ore Major brokers are revising near-term forecasts.
Shipping Cape and Panamax prices up.
General Pinchpoint updates: for Cu, Zn & Ni. Things are getting tighter.
World steel production: the yr-on-yr trend remains upward, though July was a slower month. Notable is that emerging economies continue to increase production more than developed ones.
USA- Durable goods, Vehicles and Electonric goods: Positive, flat and flat growth respectively.