This week’s comments of particular interest are noted with ‘*’.
Base metal inventories remain tight. Most focus still remains on sentiment, tariffs and trade wars.
*Copper China-USA trade talks prompt optimism in markets, hitherto beaten about by the tariff wars.
Cobalt LME Co inventories increased and prices slumped, (though this contract is noted as illiquid).
Nickel Cobalt27 to acquire Highlands Pacific (and thereby its interest in Ramu (Ni-Co)).
*Zinc & Lead Zn & Pb markets are expected to present interesting opportunities in 2019 (Trafigura).
Tin PT Timah to increase output and tin grades.
Aluminium India considering measures to protect its Al industry with import duties.
*Gold Prices at over 6mo highs. AUD Au price at long term highs.
Platinum & Palladium Zimbabwe to suspend a 2015 tax on raw platinum exports.
*Oil Prices boosted by optimism ahead of USA-China trade talks on 7-8 Jan.
Coal No Dec18Qtr contract HCC pricing announcements yet? Chinese port restrictions reduced.
Iron Ore Steel prices up as restocking expectations take precedence.
Shipping Freight rates up.
USA- PMI: Down sharply, though still outlook is for (slower) positive growth.
Luang Prabang – Rice prices.