Of particular interest this week:
X-Y plots – it’s ‘a step to the right’ for Au.
Copper – China may release stocks into the market.
Coal – high-vol met coal in short supply.
Iron ore – Steel market in China resumes profitability.
Copper China may shock the market with stockpile releases, according to traders.
Nickel New Caledonia removed ban on export of Ni-ores to China.
Zinc & Lead Zn: IBG – Citronen, one of the largest undeveloped zinc deposits. Pb: Pb-acid market comments.
Tin Peruvian San Rafael mine blockaded. plus Sn end-uses.
Aluminium China’s idled aluminium smelters restarting after recent price rally.
Gold Central banks slowed gold purchases (seasonal).
Platinum & Palladium Pt Jewellery sales in India show strong growth. ‘Upgrading’ from gold!
Oil Agreement at the 17 April meeting appears very unlikely. Iran & Russia are the thorns.
Coal High-Vol metallurgical coal is in short supply. Very few mines produce this quality.
Iron Ore China’s steel companies profitable since March – steel price recovery. Pt Hedland shipments up.
Shipping Improved Cape rates and Panamax rates, on iron ore volumes.
X-Y plots AUD vs: Au, Brent oil, Cu, Zn – for Au it is ‘a-step-to-the right’, more than once, before ‘a-step-to-the-left’.
USA Construction Spending – continued strong growth.
USA Durable Goods – low positive growth, Vehicles – strong growth, Electronics, good growth.
Japan Industrial Production – dropped in February.