Copper Global surplus forecast for 2014 & 2015 based on increased production, after four deficit years.
Nickel If sanctions are applied, Russia could readily sell its nickel output into China.
Zinc & Lead Chinese rail and highway investments to boost zinc prices. Lead forecast for deficit in 2014.
Tin World demand forecast to exceed supply in 2014. Minsur appears well placed.
Aluminium Brazil’s worst droughts in decades threaten power supply to aluminium smelters.
Gold Chinese banks have been importing less gold since the Lunar New Year.
Platinum & Palladium Most of the South African miners want to return to work (on company terms). Pt – OPEC?
Oil No Liberian return likely despite claims. Good US data is encouraging for oil.
Coal LVPCI & SSCC settlements for June Qtr. Japan planning new thermal stations.
Iron Ore Port Hedland ore shipments supported by Chinese plans, and other supply issues.
Shipping Port Hedland ore shipments at record levels.
USA: ISM – PMI is strong. Construction Spending is healthy. Electricity End-Use is stable.
Japan: Industrial Production is at good post-crisis levels.