Australian Exploration Spending
Despite the widespread geopolitical uncertainties, the world continues to be reporting good economic growth, … volatile rhetoric, but reasonably consistent growth.
Of particular note this week read those items below marked with “*”:
*Copper China’s copper imports up markedly for past 18 months.
*Nickel China’s environmental inspections disrupting NPI output.
Zinc & Lead Pb shortages in China starting to ease.
Tin Alphamin working toward development of Bisie, despite new DRC mining code.
Aluminium China’s aluminium exports are at the highest in 3.5 years. What sanctions!
Gold Standard factors for impact on gold price are competing with each other.
Platinum & Palladium Pt price may recover during 2018.
*Oil Now oil prices forecast to fall in 2018 if OPEC+Russia ease restrictions on output.
*Coal Gas prices (USA), landslides (Colombia), strikes (Sth Africa), Trade surplus (Chinese instructions to industry).
Iron Ore China’s iron ore imports bounced in May. Chinese steel mill avg daily output is at record levels.
Shipping Cape and Panamax rates both up.
*Australian Exploration Expenditure: Surprising growth for a March Qtr.
*Pinch Point updates – Cu, Zn, Ni, Pb, Sn, Al: again, prices nudging upward, on reduced stock.
Japan Industrial Production: ongoing positive growth, albeit a bit slower in April.