Of particular interest this week:
Zinc price boosted on forecast shortfalls, though latent supply may dampen near term increases.
Oil: watch latent supply. Majors are hurting and again talking of production freezes, though in reality the effect may not be meaningful.
Coal HCC and thermal prices continue to lift.
Australian Mineral Exploration Spending – forecast to improve, now with money to spend.
Copper DRC supply disruption. Chilean strikes. USA house market strength.
Nickel Possible river contamination by Norilsk. Avebury Ni transaction to resurface as interest increases.
Zinc & Lead Short covering boosted price. Stocks and latent supply in the sidelines may dampen further upside response.
Tin Tin market ‘appears’ tight. LME on-warrant tin stocks are at their lowest level since 2005.
Aluminium Mexican stockpile of aluminium may be of Chinese origin, attempting to bypass NAFTA.
Gold More FRB talk of raising US interest rates.
Platinum & Palladium Pt market may be tighter than previously thought. Inventory falls forecast.
Oil More ‘talk’ of production freeze agreements. Major producers are hurting. Watch latent supply.
Coal Spot HCC prices up on supply disruptions. China loosens thermal capacity controls.
Iron Ore Miners already paying high royalties. Pt Hedland ships at record rates. Prices drift at current levels.
Shipping Stronger iron ore demand boosted Cape rates.
Australia Mineral & Petroleum Exploration Spending – expecting improved future growth (based on recent capital raises).
Japan – Industrial Production – slow -ve growth, improving slowly.