Of particular note this week: (actually … much of this week’s issue).
Pinch-point updates: solid outlook. Cu, Zn, Ni.
Copper: may have a stronger thematic with batteries than nickel? Some major miners think so.
Nickel: still on a strong battery thematic.
Oil: OPEC break-even prices down, while oil price is up. However more changes are needed.
Venezuela: is very definitely not happy!
Iron ore: what is its price doing in contango?
Copper Cu demand growth from EV’s could become a substantial part of the Cu market.
Nickel The battery focus continues for nickel. LME may offer a Ni contract targeted for battery markets.
Zinc & Lead Pb’s TC/RC’s fell. Emerging Zn miners: MMG, RVR and an explorer PEX.
Tin Trying to figure out what the tin market is doing.
Aluminium China’s ‘winter restrictions’ viewed with a mix of hope and scepticism.
Gold Lacklustre market, though India’s wedding season, and higher physical demand looms.
Platinum & Palladium End-uses – a changing market place.
Oil Venezuela: Plunging oil output, debt issues, China and Russia to its aid, USA kicking it while down.
Coal Thermal coal markets softened. Spot HCC price holding well, contract price negotiations ?stalled.
Iron Ore China’s iron ore price is in contango, a very unfamiliar condition.
Shipping Freight rates down this week.
Break-even Oil prices: down, but the oil price is at highest level since July 2015.
Pinch-Point updates – Cu, Zn, Ni. – prices heading up.
China- industrial and energy output: as per prior months – strongest growth in manufactured goods, compared to raw materials.
USA construction spending: strongest growth in residential and private spending.
Japan – industrial production: good positive growth.