SUMMARY

Copper  – China’s copper imports dropped to the lowest since April 2013.

Nickel  – India now ranks as the third largest consumer and producer of stainless steel.

Zinc & Lead – BMW reports record car sales for the June14 HY.  Zn prices responding to decreasing inventory.

Tin  – Tin market dampened by emergence of “hidden” stocks.

Aluminium – RIO evaluating expansion of Embley.  Other small companies also evaluating bauxite.

Gold  – Comex’ precious metal trading margins reduced.

Platinum & Palladium  – Prices up on FOMC delay to raise interest rates, and further South African unrest.

Oil – Kurds seize Kirkuk fields.  ISIS smuggling out USD 1m/day of oil.    .

Coal – Indonesian royalty increases.  Indian power stations short of feed.

Iron Ore – Prices inch upwards.  Baoshan holds product prices steady though seasonal summer softness.

Shipping – Panamax rates recovered – catch up to Capes.

General  

Currency Indexes:  CNY, USD, EUR, JPY, AUD.

Germany:  Industrial Production, Durable Goods, Construction – continues positive growth.