This week’s comments of particular interest are noted with ‘*’.
*Copper Strike at Chuquicamata & threat of strike at Escondida. Sentiment concerns are of growth. .
*Cobalt Relative Price weakness is expected to be temporary.
*Nickel NPI output increased to a third of finished Ni unit output.
*Zinc & Lead Zn TC charges increased. Trump’s trade ware escalates.
Tin SRZ, KAS, VMS – emerging tin production.
Aluminium Trump’s tariff war has limited the numbers of available (Al) cans for beer in Canada.
Gold Thieves used a sewerage truck to steel gold from a mine near Kalgoorlie.
Platinum & Palladium Supply cuts by major producers may prompt prices to respond.
*Oil USA’s crude exports slowed as offtake to China (its largest buyer) has reduced buying from USA.
*Coal USA met coal exports making larger inroads to Asian markets.
Iron Ore Iran’s steel, metals & minerals trade likely to be curtained sanctions, but not so much iron ore.
Shipping Cape rates up on iron ore demand. Panamax rates down slightly.
RBA – Index of Commodity Prices:
*PinchPoint updates: Cu, Zn, Pb, Al points are n the volatile nose zone. Ni is heading there.
USA – PMI : slower growth this month but still indicating a strong growth outlook.
*USA – Construction Spending : Strong growth. Would actually like to see it slow and stabilise someqhat
*Japan – Industrial Production: slower growth for June, though stronger outlook for July & August.