Of particular note this week:

Copper:   Increased project investment interest.

Zinc:  emerging mines

Nickel:  forecast widening deficits.

Platinum-Palladium:  Pd above parity with Pt.

Oil:  OPEC restraint likely needed beyond March.

 SUMMARY  

Copper  Increased Cu prices may be leading a surge in interest in Peruvian auction for a major Cu project.

Nickel  Prices reacting for forecasts of widening Ni deficits.

Zinc & Lead  Thalanga (RVR), Dugald River (MMG), Century (NCZ), Wagga Tank (PEX) & Abra (G1A).

Tin  New ultra-thin metal oxide compounds of galinstan (Ga, In & Sn) developed.

Aluminium  China’s output of Al continues to fall, but on track for record high.

Gold  India launching its first options contracts on its Multi-Commodity Exchange (MCX).

Platinum & Palladium  Pd again at a premium to Pt.  Robust new vehicle sales in USA and China this year.

Oil  Forecasts suggest (OPEC et al) output restraints will be required beyond March.

Coal  Met coal price falls continue beyond Golden Week.  Thermal prices improve.

Iron Ore  China’s steel output falling ahead of winter restrictions.  Congress’ emphasis on pollution control.

Shipping  Asian freight rates continue strong performance.

General 

USA New House Starts: strong uptick

USA Industrial Production & Capacity Utilisation:  +ve growth.  Resources stronger than Mfg

World Steel – short run outlook – Steel Use:  Growth is outside China.