Of particular interest this week:

Drilling Rig Counts – Impact of Saudi’s plans still progressing.  

Base metals – backwardation


Copper  Eventually the market will wake up to fundamentals.

Nickel  The Kambalda Football Club is in crisis.

Zinc & Lead  RVR – good drilling (Zn-Cu) results at Thalanga.

Tin  A tight market, for one with so much metal about.

Aluminium  Rusal considering smelter cut-backs (not? to be restarted).

Gold  Mine supply is reducing.  Recycling is reducing.  ‘near-market’ stocks have reduced.

Platinum & Palladium  Sth Africa plans for a Pt fuel cell plant in-country.

Oil  Prices jumped on anticipation of a production cut-back.  However low prices forecast ahead.

Coal  Stanmore (SMR) poised for an April re-commissioning of Isaac Plains.

Iron Ore  Rate of price decline slowing, and turning, perhaps near bottom.

Shipping  Dry  Bulk markets down during Chinese New Year holiday festivities.


Drill Rig Counts (global):  Mid-east market share almost doubled.

Port Hedland – iron ore shipments