Of particular interest this week:
Steel – yr-on-yr flat output, but daily rate increasing.
Oil – US banks tighten credit – alternative (debt) mkts emerge.
Nickel – BHP to revisit WA nickel. The rise of Russian exports.
SUMMARY
Copper Iran discussing establishment of a Cu industry with Glencore (& RIO).
Nickel Cerro Matoso cut-backs (S32). Akelinkongo evaluation (SRI). POS increases Resources.
Zinc & Lead Large Zn-Pb Resource at Teena (RXL).
Tin A bit of Cornish tin history.
Aluminium China’s bauxite imports expected to increase.
Gold Factors currently affecting gold price. Malaysian decline forecast to reduce
Platinum & Palladium Auto-catalyst scrap supply reduced. Sibanye strike continues.
Oil Price response: US rig numbers up. OPEC holds its ground. Nigerian supply at risk.
Coal Chinese utility buying boosted market sentiment. Indonesia trying to limit exports to extend DMO.
Iron Ore Mixed signals.
Shipping Buoyed by bullish sentiment.
General
World Steel – Short Run Outlook – positive demand growth outlook except for China.
USA – PMI – generally positive outlook. Orders to durables & production lead.
Japan – Industrial Production – negative yr-on-yr growth continues.
Germany – Indust. Production, Durable Goods, Construction – Low growth IP, but orders good.