Steel

This week’s comments of particular interest are noted with ‘*’.

SUMMARY  

Copper  Peruvian communities protest against local mine infrastructure development.

*Cobalt  BMI considers recent price falls are more due to sentiment than demand reduction.

Nickel  Ni market still tightening. : PAN, CTM, POS, GBR, IPT.

*Zinc & Lead  CRU stress tests outlook for Zn regarding Chinese mine supply ability to return to production.  TKM

Tin  WBMS reports tin market deficit.

Aluminium  USA is trying to negotiate quotas for Canada and Mexico for Al instead of tariffs.

Gold  CSIRO demonstrates cyanide-free gold production in WA.

Platinum & Palladium  New Pt-Au alloy is the most wear-resistant metal;  comparable to diamond and sapphire.

*Oil  OPEC to meet 23 Sept.  USA sells oil from strategic Reserves, to cover sanction effects.

Coal  Asian thermal coal buyers becoming more cost conscious.  Producers look to European mkts.

Iron Ore  There has been relatively little investment in iron ore mines of late.

Shipping  Cape rates down, Panamax rates stable.

General 

*China Freight:  Strong growth in rail, highway and water freight.

*Industrial ProductionSouth Korea, Brazil, India.

World Steel – widespread strong positive yr-on-yr growth, though avg daily output (mo-on-mo) slowed from June to July.