Of particular interest this week:

China – Industrial Output– check the changes and trends.

Oil – a ‘good’ disruption – Nigerian supply.

Zinc:  positive outlook by Glencore.   Talks its own book (& controls a large LME inventory).

Copper – mixed signals.


Copper  mixed signals – China dampens speculation.  Goldmans calls Cu down.  ICSG declares a shortfall for Cu. 

Nickel  Finnish govt supporting its Terrafame Mining’s Ni mine – so far.   

Zinc & Lead  Glencore’s Zn outlook positive.  Deficits returning.  MZN drilling at Newman.  Pb in surplus.

Tin  Indonesian supply to increase as smelters paperwork is lodged.  Demand growth slow.

Aluminium  Chinese demand seen expanding, production moderating.  

Gold  Demand jumped, but mostly in paper (EFT’s).  Jewellery & Central Banks’ demand down.  

Platinum & Palladium  Pt in marginal surplus.  Pd deficit easing. 

Oil  Disruption to Nigerian supply a key to price increases.  Canada back on line soon. 

Coal  Peabody – Bowen Basin sales.  China thermal mkt balance by 2017.  Aust HCC spot prices down.  

Iron Ore  Fundamentals driving prices more than speculation.  Also see China’s auto output (down).  

Shipping  Cape rates down.  Panamax (heavy rain in Kalimantan). 


Japan-LNG price:  gapped down.

China – Industrial Output:  mixed growth results, depending on the segment.

USA – PMI segments:  travelling OK, in the longer term sense.