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 “*”:

SUMMARY  

*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.

General 

*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.