Of particular note this week:

Oil:   Saudi’s continue to seek .  stability (as long s they do not lose mkt share).

Base metals (Cu, Zn, Ni)  pinch points – everything continues to tighten a bit more.

Gold :   Vague comparison with bitcoin, which according to some may have peaked.

Baker Hughes Rig Counts:   fluctuating North American counts may be close to balance.

SUMMARY  

Copper  SOL stated a large maiden Resource in Ecuador.  MOD has wide, high grade Botswana intercept

Nickel  Indonesia to increase domestic consumption of nickel, exports to reduce.

Zinc & Lead  Zn price up on upbeat Chinese data.  Frigid USA weather likely to increase Pb demand.

Tin  Forecast deficits have proved elusive, so far.

Aluminium  Chinese capacity reductions are expected to bear fruit, eventually.

Gold  Bitcoin may have peaked.  Digital currencies appear to be backed by the concept only.

Platinum & Palladium  On-going restructuring in the South African platinum group metals industry is expected.

Oil  Saudi striving to retain market share in exports to USA.

Coal  Diverse forces affect coking coal mkts:  shipping & Arctic (super) cold front.

Iron Ore  Resurgent Chinese manufacturing supporting iron ore prices.  Brazilian exports increasing.

Shipping  Cape and Panamax rates reduced.

General 

USA PMI:  continued outlook for positive growth.

Pinch-Point graphs:  Cu, Zn, Ni, Pb, Al, Sn:  Prices are edging upward.

Baker Hughes Rig Count:  count reduced slightly in USA this week.

USA Construction Spending:  strongest growth is in ‘residential’.