Tag: Peru

Commodity Review – 20180928 -by Andrew Pedler – now available

Commodity Review – 20180928 -by Andrew Pedler – now available

SUMMARY  

*Copper  Copper’s current positive internal dynamics are increasingly at odds with its price.  It is not alone.

*Cobalt  DRC cobalt is favoured because of availability, and low As levels.

*Nickel  International consortium looking to produce Indonesian Ni for EV batteries.

Zinc & Lead  Zn Air batteries – developed and in use, for stationary storage.

Tin  ITA forecasts a slowdown In Sn demand growth, due mainly to Chinese growth rate expectations.

Aluminium  Notes at Metal Bulletin’s Aluminium Conference – Berlin.  Tariffs will not solve China’s overcapacity.

Gold  Prices are seeing little reaction & remain below key psychological level of USD 1,200/oz.

Platinum & Palladium  Zimbabwe’s policy changes aimed at attracting investment.  More change may be needed.

*Oil  The OPEC agreement has been well managed.  But, more oil needs to be discovered.

*Coal  Fire at North Goonyella!  South Africa’s new Mining Charter may need further revision(s).

Iron Ore  Chinese policy of shutting inefficient polluting mills drives demand for high grade feed materials.

Shipping  Panamax rates up while Cape rates flat, ahead of China’s October week holidays.

General 

*South American Exchange Rates:  Chile, Peru, Argentina, Brazil.

*Base Metal PinchPoint graphs:  Inventories continue to reduce (except Sn).

*World Steel:  Healthy August yr-on-yr and 12-month yr-on-yr growth.

*Seaborne Coking Coal:  Australia dominates seaborne coking coal supply but patterns are shifting.

USA – Durable Goods, Vehicles, Electronic goods:  strong positive growth.