Tag: Singapore Port

Commodity Review 20181116 by Andrew Pedler – Now Available

Commodity Review 20181116 by Andrew Pedler – Now Available

Metal inventories continue to decrease, tightening base metal markets.

Chinese output continues to be strongest in consumer items, plus with +ve growth in energy consumption.

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

SUMMARY  

Copper  Teck is to choose a development partner for Quebrada Blanca.

Cobalt  Co prices are recovering.  LME Co contracts are not very liquid.

Nickel  WSA has approved the development of Odysseus, following completion of its DFS.

Zinc & Lead  PEX’ drilling intersected very high grades at Southern Nights.

Tin  Inventories increased.  Watch ShFE for trends.

Aluminium  Chinese Al output down for a third consecutive month.

Gold  Eastern European and Central Asia’s central banks are buying gold.

Platinum & Palladium  Changes to the definition of a kilogram.

Oil  Expectations that OPEC will reduce production at its meeting on 6 Dec.

Coal  Global coal demand is forecast to remain flat till 2025.

Iron Ore  Looming winter months in China expected to slow construction, alongside auto production.

Shipping  Cape rates fell heavily.  Panamax rates reduced.

General  

Singapore Shipping:  ongoing +ve growth in containers, plus bulk and tankers.

China – Industrial & Energy Output:  +ve growth in energy, and consumer items.

Commodity Review 20180914 by Andrew Pedler – Now Available

Commodity Review 20180914 by Andrew Pedler – Now Available

AUD Price XY Plots

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

SUMMARY  

*Copper  Chile studying a proposal to increase mineral royalties.  Support for the bill is doubtful.

Cobalt  COB  begins large drill campaign.   HAV  completed metallurgical drilling

*Nickel  Several global metals producers looking toward Indonesian Ni via HPAL for EV markets.

Zinc & Lead  NCZ delivering Zn conc. via pipeline to Karumba.  TZN DFS on Tala Hamza-Amizour.  PEX’s Wagga Tank

Tin  ITA estimates increased refined tin demand in 2017.

Aluminium  Iran’s Al consumption increased by 12% in 2017.

Gold  Gold price forecast to be rangebound pending delivery of Federal Reserve rates expectations.

Platinum & Palladium  South African Pt production continues, supported by a weak ZAR, but margins are challenging.

*Oil  China’s oil production up marginally. Oil & gas imports up markedly.

Coal  Coking coal demand from India and China supporting prices.  Adani redesigned its rail plans

Iron Ore  China’s steel output eased in August after record highs in July.

Shipping  Cape rates up, Panamax rates up as well.

General 

AUD / commodity XY plots:  generally a relationship with AUD following prices.

Port Hedland – Iron ore Shipping:   Shipments to China up almost 10%.

Port of Singapore – ship traffic:   Total traffic down but container traffic up.

USA PMI:  strong outlook.

USA Industrial Production & Capacity Utilisation:  strong IP growth, and Cap.Ut rising.

Japan – LNG prices:   Contract prices following oil prices (up).