SUMMARY
Copper: Copper “financing” issues slowing demand, but other countries improving (demand).
Nickel: Mirabela Nickel – revived from administration, but shareholders bypassed.
Zinc & Lead: Zinc market beginning to tighten on foreshadowed supply closures.
Tin: Tin has strong fundamentals, but is a small market.
Aluminium: Alcoa expanding into aerospace.
Gold: Commodity “financing” issues seeping into gold markets in China.
Platinum & Palladium: Return to work for South Africa.
Oil: Iraq’s Supreme Court proves independence. Rejects Government’s injunction against Kurds. .
Coal: HCC settled for Sept 14 Qtr.
Iron Ore: Ore prices lifting from bottom. BHP & AGO layoffs. Brazilian shipments at high levels.
Shipping: Cape-size freight rates to double. .
General
Gold: Reserves & Relationships.
USA: Durable Goods Orders, Vehicles Orders, Electronics Orders: all slow growth.
Japan: Electricity demand down in May.