Of particular interest this week:

Base Metals – More restriction to Cu supply.

Oil:  Muddied outlook.  Several competing factors.

Platinum:  IPT good intercepts in Broken Hill block.

Coal:  AGL 2050 commitment, countered by increased demand in emerging markets.

Iron Ore:  a limited price response to production  cutbacks by 2nd tier producers.


Copper  Peruvian projects stalled, now getting Presidential support, but protests persist.

Nickel  Ni demand outlook buoyed by prospective demand from batteries in hybrid cars.

Zinc & Lead  Wood Mackenzie says prices may yet decline, but right now inventories are down and prices up.

Tin  Short selling hitting tin prices.

Aluminium  China’s Al exports may close the gap and lead to a global surplus.

Gold  India’s jewellery industry forecast for robust growth over the mid- to long- term.

Platinum & Palladium  Impact Minerals (IPT) attractive PGM intercepts in the Broken Hill block.

Oil  Outlook for oil is muddied by a number of competing forces.

Coal  AGL commits to move away from thermal coal-fired (unless with proven carbon capture) by 2050.

Iron Ore  RIO defends restated position on expansions.  Iron ore prices lifted on output reductions.

Shipping  Limited upside for bulk shipping at present.


Singapore Shipping:  – slowing yr-on-yr, but may be stabilising.

USA:  Industrial Production – positive, but slower growth.

USA:  Capacity Utilisation – lower in March.

Japan:  Electricity Demand – continuing to slow, slowly.