Of particular interest this week:

Gold:  Venezuela – a candidate for default.

Oil:  OPEC not holding back on production.

Nickel:  El Nino to extend the mining season.

Copper:  power cuts tighten supply.


Copper  Zambian copper miners struggling with power cuts.  Antofagasta M&A

Nickel  El Nino may extend Philppines’ nickel mining season this year.

Zinc & Lead  Vedanta Resources expects global zinc supply to fall by 5% this year.

Tin  Indonesian new tin export regulations come into effect on 1 August, and may delay exports.

Aluminium  Alumina smelter cuts in China may boost prices.

Gold  Venezuela may default!  India’s gold jewellery exports may grow upon hallmarking.

Platinum & Palladium  NUM has signed an agreement with Northam Platinum.

Oil  OPEC oil output at record levels.

Coal  China coking coal restocking.  August is normally a soft month for coal and steel demand in China.

Iron Ore  China’s iron ore concentrate prices rising, volumes falling.

Shipping  Australian port maintenance to impact on vessel queues.


Global vehicle production – good near term and long term (cagr) growth.

USA:  Durable Goods, Vehicle Orders, Orders for Computers – improving.

Japan: Industrial Production – recovering (slowly).