Of particular interest this week:

Coal – Benchmark thermal set well above spot prices.

Iron Ore – Hamersley shipments just down from peak shipment levels.


Copper  – Glencore suspended planned projects as Zambia’s govt. withheld tax refunds.

Nickel  – Ni prices forecast to recover within 12 mo.

Zinc & Lead – Glencore cut jobs at zinc operations in Zambia.

Tin  – n/a

Aluminium  – Aluminium increasingly replacing steel in automobiles (in USA).

Gold  – Prices down on good labour market data and expectations of higher interest rates.

Platinum & Palladium  – SA producers now faced with reduced prices on top of production recovery challenges.

Oil  – OPEC to meet in November to decide stance.    .

Coal – Benchmark SSCC and thermal established.

Iron Ore – Port Hedland shipments in September slipped, from record levels in August.

Shipping – Markets slowed.     .

General Economics

USA:  PMI – slower but positive growth;

– Construction Spending, generally positive growth (+ve yr-on-yr), except Public sector (again).

Japan: Industrial Production.  (-ve).

Germany:  Industrial Production (+ve), Orders to Durable Goods (-ve), Orders to Industry (+ve).