Of particular interest this week:
Baker Hughes Rig Counts. North America is the most reactive.
World Steel – production up in China (in a month that included Chinese New Year)!
Currency Effects – consider currencies other than USD. It is increasingly often not the most relevant.
Base metal markets – backwardations and contangos starting to tighten.
Copper – supply-side tension.
Coal – HCC settlements.
Copper Supply-side issues continue to affect copper, tightening the market.
Nickel Global Ni surplus reduced. POS upgrades Maggie Hays nickel Resources.
Zinc & Lead Zn TC’s settled for 2015 (increased). Ivernia’s Paroo Station Pb mine on care & maintenance.
Tin Prices down. Market does not believe Indonesian efforts can prop up prices.
Aluminium Rusal pushing for China to curb semi-fabricated exports.
Gold Gold price settlements to be ‘fixed’ electronically.
Platinum & Palladium Pt output from South Africa to recover, up 31% in 2015. Market still in deficit.
Oil New USA regulations on fracture stimulation challenged by industry.
Coal HCC settlement for June Qtr (down). PCI & thermal expected soon. India opening up mining.
Iron Ore Iron ore price forecasts for a lower floor.
Shipping Cape rates hard hit on bulk volumes. More ships laid up.
Baker Hughes – the drilling rig count is more reactive for North America.
World Steel – increased output, and in a month that included Chinese New Year!
AUDUSD currency effects – on received base metal prices.
Currency Indexes – Changes in relative competitiveness.
USA – New Housing Starts, Industrial production & Capacity Utilisation
Japan – Electricity demand.