Of particular note this week:
Trump’s ill-advised/conceived tariffs on imports spooked the equity markets last week,
… though industrially the subtitle has been more like – “Trump roars, China yawns, USA shoots itself in foot”.
… except that if other nations are similarly spooked and ill-informed they may mimic, and exacerbate trade conditions.
… as seen this week, USA’s economic condition and outlook is actually good, perhaps as it has been in the last 48 years.
… why tamper with that?
“There is a strange thing about the fire and fury that President Donald Trump is planning to wreak on the foreigners ‘killing’ American manufacturing: The foreigners do not seem to care”.
Steel: World steel output for January. Trump’s tariffs –
Gold: India to liberalise its treatment of gold, to aid GDP
Oil – OPEC to meet shale-oil producers on Monday.
Platinum – Zimbabwe – miners call for consistency.
Copper Chile’s Los Pelambres will vote on a new labour contract on Monday.
Nickel PT Vale Indonesia’s Ni output reduced slightly yr-on-yr.
Zinc & Lead RVR put ops on standby due to severe weather. NCZ competed acquiring 100% of Century.
Tin Trump’s tariffs’ impact on auto, aerospace and beverage industries, in USA.
Aluminium US Al buyers scramble to secure material. USA does not have smelting capacity to stop importing.
Gold India’s NITI Aayog recommends cuts to gold taxes, and to assist gold’s contribution to GDP.
Platinum & Palladium Zimbabwe called upon to provide foreign miners a consistent legal framework to operate with.
Oil OPEC meets in USA on Monday to discuss issues with shale-oil producers.
Coal Wet Qld weather tightened HCC supply. China extends production restrictions. South Africa risks.
Iron Ore Iron ore futures fell on Trump’s announcement, but market prices increased upon opening.
Shipping Cape rates stable. Panamax rates increased.
General World Steel & Tariffs: “Trump roars, China yawns, USA shoots itself in foot”.
USA – Durable Goods, Vehicles & Electronics Orders: strong growth.
USA – Purchasing Managers’ Index: has only been this strong ~10x in the past 48 years.