Of particular interest this week:

OECD Composite Leading Indicators:  broadly a slow growth outlook.  Buoyancy mostly in Asia.

World Steel production:  growth has been flat but improving into April.  Strongest growth outside China.

Shipping from Singapore:  improved for raw materials.

Nickel & Zinc:  Market traders becoming frustrated with outlook being slow to be realised.


Copper  Peru’s economic growth forecasts reduced due to decline in metal prices and outlook.

Nickel  Nickel market fundamental signals mixed and not matching longer term deficit forecasts (yet).

Zinc & Lead  Market participants losing patience with long term Zn fundamental outlook story.

Tin  Zimbabwe shortlisting companies for tin production.

Aluminium  Al premiums have fallen.  Al market reported a deficit in the March 2015 Qtr.

Gold  NST says that Australian gold asset prices are fully priced.  Better to explore and find deposits.

Platinum & Palladium  Pt deficit still forecast but smaller than initial estimates.

Oil  Slump in drilling activity appears to have bottomed.

Coal  Japanese ‘soaking up’ spot thermal.  Met contract negotiations beginning for Sept Qtr.

Iron Ore  Australian producers need to remain globally competitive.  China is funding Vale’s transport.

Shipping  Capesize rates improving, though some say improvement is limited.


Port of Singapore – Shipping:  Improved bulks and tankers but lower growth for containers.

OECD Composite Leading Indicators:  Outlook for 18 countries.  Slower growth globally but with upside particularly in Asia.

World Steel Output:  Data for 18 countries.  Growth flat, to improving slowly, in April.

USA:  New Housing Starts up in April;  Industrial Production growth slow but positive.

Japan:  Electricity demand:  Flat in April.