Of particular interest this week:

Supply disruptions :  Cu, Ni, Sn, Coking Coal. 

Gold:  demand softening against price increases.

Oil:   OPEC production up.  In our view, the proposed production agreements are not really credible, based on past OPEC members’ (cheating) performances.

Coal – Coking prices still increasing.  Thermal coal price jump. 


Copper  OZL to expand Carrapateena Cu-Au project. 

Nickel  Ni deficit forecast for 2016.  

Zinc & Lead  Zn deficit forecast for 2016.  Pb surplus forecast for 2016.

Tin  Supply constraints needed if Sn price is to make a sustained rally. 

Aluminium  US Commerce Dept prelim findings against China Zhongwang Holdings. 

Gold  Conciliatory Trump speech and difficulties in India drivers for gold price slip.  

Platinum & Palladium  Moodys rate recent wage deal positively for South Africa. 

Oil  OPEC increased production for October!  Baker Hughes rig counts up again. 

Coal  Coking coal price increases reflect supply disruption.  China to extend working days for thermal. 

Iron Ore  Price reacting to Chinese demand surge, and market optimism. 

Shipping  Capes up on increased demand for iron ore. 


Gold Demand – softening against increased gold price.

GBP (pound) – Brexit effect

USA – Construction Spending – Private spending up, public spending down.

Japan:  Industrial ProductionOrders to Machinery – still reducing overall.

Germany:  Industrial Production, Durable Goods, Construction – positive movements