SUMMARY
*Copper Copper’s current positive internal dynamics are increasingly at odds with its price. It is not alone.
*Cobalt DRC cobalt is favoured because of availability, and low As levels.
*Nickel International consortium looking to produce Indonesian Ni for EV batteries.
Zinc & Lead Zn Air batteries – developed and in use, for stationary storage.
Tin ITA forecasts a slowdown In Sn demand growth, due mainly to Chinese growth rate expectations.
Aluminium Notes at Metal Bulletin’s Aluminium Conference – Berlin. Tariffs will not solve China’s overcapacity.
Gold Prices are seeing little reaction & remain below key psychological level of USD 1,200/oz.
Platinum & Palladium Zimbabwe’s policy changes aimed at attracting investment. More change may be needed.
*Oil The OPEC agreement has been well managed. But, more oil needs to be discovered.
*Coal Fire at North Goonyella! South Africa’s new Mining Charter may need further revision(s).
Iron Ore Chinese policy of shutting inefficient polluting mills drives demand for high grade feed materials.
Shipping Panamax rates up while Cape rates flat, ahead of China’s October week holidays.
General
*South American Exchange Rates: Chile, Peru, Argentina, Brazil.
*Base Metal PinchPoint graphs: Inventories continue to reduce (except Sn).
*World Steel: Healthy August yr-on-yr and 12-month yr-on-yr growth.
*Seaborne Coking Coal: Australia dominates seaborne coking coal supply but patterns are shifting.
USA – Durable Goods, Vehicles, Electronic goods: strong positive growth.