Comments of particular interest are noted with ‘*’.
* 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
* Copper recycling and scrap availability has suffered through the Covid epidemic.
* Iron ore demand remains firm with China’s surging steel output.
*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.
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.
Port Hedland – Iron ore shipments: still strong levels of exports.