Of particular note this week:

Steel –  world production continues growth, despite China’s cutbacks.

USA:  economic data is sluggish.

Zinc – Chinese imports of Zn metal and conc increase.  It is a tight market.

Copper –supply disruptions in Chile.

Coal – new proposed coking coal contract price structure, by the customers.

Gold – India’s new tax  policy.


Copper  Codelco’s Cu output is down.  Heavy seas and strikes to disrupt Chilean Cu output.

Nickel  BHP’s Nickel West to extend the life of the Mt Keith operations.

Zinc & Lead  China’s imports of refined Zn increase.  Signs that concentrate markets are tight.

Tin  Nigeria seeking to resume and develop mining activity and capacities.

Aluminium  China’s Al output is volatile at present, but cranking up.  Targeting cutbacks.

Gold  India’s new tax policy sidelined Asian buyers.  May-June is normally quiet in Chinese jewellery.

Platinum & Palladium  Mine supplies of Pt to decrease during 2017.  Pt and Pd markets in deficit.

Oil  OPEC and associates agreed to extend the crude output cuts through to March 2018.

Coal  Nippon Steel-Sumitomo propose new structure for coking coal contract prices.

Iron Ore  Speculators have returned and are selling.

Shipping  Panamax rates falling, and Cape rates down.

Singapore Ship Traffic
:  increased containers and tankers, though bulks were softer.

World Steel:  Steel output continues to grow including in China, despite capacity cutbacks.

USA:  Industrial Production, Capacity Utilisation, Durable Goods, Housing Starts:  Slower

Baker Hughes :  North American Rig Counts – increasing growth during OPEC constraints.