Of particular interest this week:
Baker-Hughes: Rig Counts down further.
Gold: USD becoming less relevant in setting gold price.
SUMMARY
Copper Cu output in DRC increasing strongly, despite political risks.
Nickel Shanghai Futures Ex to allow foreign made Ni in its contracts.
Zinc & Lead RVR & EMX advancing their Zn projects.
Tin Most main producers of Sn decreased output in 2013.
Aluminium China’s output and consumption of Al continued to grow but at slower rates.
Gold WGC says the USD value is becoming less important in determining the price of gold.
Platinum & Palladium Lonmin discussing reduction of 3,500 jobs.
Oil Russia has been unable to sell Iranian crude (under the oil-for-food agreement).
Coal Coking coal demand soft on destocking in China plus strong Australian supply.
Iron Ore Port Hedland shipments .
Shipping Good conditions on the Mahakam and Barito Rivers not matched by demand for (thermal) coal.
General
Baker Hughes rig counts for April – down
CPI – Australia & USA – USA at ~0.0%
AUDUSD vs 90 day interest rate