Comments of particular interest are noted with ‘*’.

Matau’s Comments:

*        Base metals’ pinch-point graphs continue to show metal prices are tight though only copper is responding in this confused market. as industry restarts post-Covid-19 in several
areas. 
*        Copper recycling and scrap availability has suffered through the Covid epidemic. 
*        Iron ore demand remains firm with China’s surging steel output.

SUMMARY
*Copper:  Recycling of copper scrap has suffered during Covid. Chinese scrap imports reduced.
*Cobalt: China stockpiling cobalt.
*Nickel:  Mincor’s Cassini North is can add materially to MCR’s Resources.
Zinc & Lead:  Zn outlook improving through 2021, then moderating through 2024.
Tin:  n/a
Aluminium:  Al’s aims of reducing carbon footprint will likely shift the industry’s structure..
Gold:  Unusually, both equities and gold prices are rising and falling together.
Platinum & Palladium:  A hydrogen energy and fuel cell evolution may support Pt markets. .
*Oil: Price slips on higher US stocks, and weak demand.
Coal: Sep20Qtr coking coal settlements.
Iron Ore: Reports that China’s iron ore imports increased by 11% from Jan-Aug20.
Shipping:  Cape rates reduced while Panamax rates increased.
General
Port Hedland – Iron ore shipments:  still strong levels of exports.