Of particular interest this week:
Currency: USD strengthening. CNY may be finding equilibrium. (pp.1-2)
Oil: Russian production at post-Soviet record levels. (p.16).
Coal: India usurps China as Indonesia’s largest export market. (p.18)
Iron Ore: The worst may be over. (p.20) Chinese production (Nov) is reduced. (p.23)

Copper – Cu price outlook equivocal near-term but sturdier than iron ore. 1.8 Mtpa of capacity might not materialise in 2015. Deficit by 2017, if not before.
Nickel – Supply from Koniambo suspended. Expect China’s high grade Ni-laterite stock depletion Mar15Qtr.
Zinc & Lead – Expect a Zn price rally, but tempered by small new parcels of zinc production.
Tin – Peru’s overall mining production down 1.05% in November. Affects Cu, Ag, Sn, Mo.
Aluminium – LME warehouses to increase rental charges from 1 April.
Gold – Gold considered to retain safe-haven status during 2014.
Platinum & Palladium – Producer inventories may be substantial, limiting upside in price.
Oil – Russia’s oil output hits post-Soviet record.
Coal – India now the biggest export market for Indonesian thermal coal, above China. Coal at a turning point according to Japanese traders?
Iron Ore – Worst is probably now over for the iron ore market. Wide range of price forecasts.

Shipping : n/c

China – Freight: Rail freight has +ve growth, Waterways traffic is also strong.
China’s Industrial Output: Iron ore output appears impacted by low prices.
Cement is down. Copper, Alumina and Electricity generation are up.
USA – Orders to Durable Goods, Vehicles, Computers. Construction Spending & PMI.
Japan – Industrial Production: continued struggle to achieve positive growth.
Germany – Industrial Production, Durable goods Orders, Orders to Industry.
nb: new tables of Interest Rates & other Asian foreign exchange data