Of particular interest this week:

Copper – output tightening.

OECD-CLIs – UK outlook is for improved growth.  Euro outlook for slower growth.  Most other countries outlook is for improved growth.

Shipping – it is unusual to see all the Baltic indices increase in any week, …  

All the LME metals’ prices increased this week too, and the northern summer is barely half way through.

Oil – it is not at all about Brexit.  Plenty of disruptions, being remedied, but they take their toll.  


Copper  Chile’s Cu output down.  RIO stepping away from Bougainville. 

Nickel  Brazil cutting import duty on nickel.  SGQ confirms Ni assays in Strickland drilling. 

Zinc & Lead  MMG has financing for Dugald River, equity still required.  USA auto-sales down. 

Tin  China issued second batch of (tin) export quotas.  

Aluminium  Chinese Al output creeping up (again).  Malaysian bauxite restrictions retained. 

Gold  Newmont sale of Batau Hijau to Indonesian interests.  Gold price up on uncertainty.   

Platinum & Palladium  South African unions trying to resolve inter-union conflict. 

Oil  Oil prices up.  It is not remotely all about Brexit.  

Coal  Prices continue to rise for thermal and coking.  Coking settlements reflect new benchmarks.   

Iron Ore  Outlook for iron ore prices is for gradual improvement, with improving demand and output restraint. 

Shipping  Unusually, all the Baltic sub-indices increased this week . 


OECD Composite Leading Indicators – positive for most economies (nb: UK +ve & Euro -ve).

USA – PMI – positive (>50) for almost all segments.

USA Construction Spend – slow growth, likely to remain slow.

Japan – Industrial Production – still weak negative growth for nine consecutive months.