Singapore Ships & USA
Comments of particular interest are noted with ‘*’.
- Pinchpoint graphs are highlighting tightness in markets for Cu & Ni in particular.
*Copper Cu prices jumped. Pinchpoint graphs show tightness. Indications of a ‘boom’ cycle.
Cobalt China-Moly acquires major stake in DRC’s Kisanfu Cu-Co mine not far from Tenke Fungurume.
*Nickel Impact Minerals (IPT) identifies large Ni-Cu-PGE inventory near Broken Hill.
*Zinc & *Lead Tight Zn market lowers concentrate TC’s. China’s shortages of power supply
*Tin Covid restrictions leading to more consumption of electronics, and increased Sn demand.
Aluminium Australian Federal Govt to underwrite a lifeline to Alcoa’s Portland smelter .
*Gold USA Fed adjourns FOMC meeting and plant to retain ZIRP through 2023.
Platinum & Palladium Battery-powered truck fleets to convert to H2 fuel-cell technology in China.
Oil Australian Kwinana oil refinery to close, replaced by a fuel import facilty.
*Coal LVPCI settlement for Mar21Qtr. China’s power shortages linked to bans on Aust. thermal coal.
Iron Ore Iron ore price is high on strong demand and restricted supply.
Shipping Asian freight rates remain firm on strong Chinese demand for raw materials.
*Port of Singapore – Shipping: Bulks and Tankers in demand. Containers down on prior months.
USA – Housing Starts: +ve growth. Resumed recovery trend from 2011.
USA – Industrial Production & Capacity Utilisation: IP growth is -ve and utilisation is suboptimal.