Tag: Oil sanctions

Commodity Review 20180907 by Andrew Pedler – Now Available

Commodity Review 20180907 by Andrew Pedler – Now Available

This week’s comments of particular interest are noted with ‘*’.

SUMMARY  

*Copper  Differences between short term (traders & spec) and long term (corporate) perspectives .

Cobalt  Cobalt sulphate demand is a key driver of mi-long-term forecast demand

*Nickel  Philippines – limiting land area(s) to be developed for mining, and tightening enviro-regulations.

*Zinc & Lead  Zn TCs have fallen sharply.  Concentrate supply is tight.  Euro restrictions on Pb batteries.

Tin  Mines in Myanmar in focus but with an uncertain outlook.  Potential for deficit markets.

Aluminium  Rusal increasing Al exports (despite sanctions).

Gold  Gold price fluctuating with USA economic news and various currency movements.

Platinum & Palladium  Global Platinum supply to contract.

*Oil  USA sanctions on Iranian oil exports will be hard on India.

*Coal  Indian mills agree volumes and price mechanism for Dec18Qtr met coals.  Thermal (Oct) contracts.

Iron Ore  Chinese steel mills’ output constrained by government pollution curbs.

Shipping  Panamax rates softer, and Cape demand reduced this week.

General 

*USA Interest Rates and Yields:  an historical review, including global financial crisis.

*Australia – Exploration – Minerals & Petroleum:  minerals recovery, petroleum still weak.

*USA – Construction spending:  including GFC comments:  current growth is strong.

Japan – Industrial Production & segments:  growth is positive but has slowed.