Of particular note this week:

Updated pinch point graphs for Zn, Cu & Ni.  Getting tighter.

Copper: Indonesia strong-arms control of Grasberg from Freeport McMoran.  Seriously high political risk for (large) concentrate producers in Indonesia.

Lead: China to promote recycling of most base metals.

Oil:  prices fell again as workers return to rigs post Harvey.

Coal:  – Coking coal demand outlook remain firm.


Copper  Indonesia strong-armed control of Grasberg.  High political risk for concentrate producers.

Nickel  Asian battery makers developing new Li-ion batteries with higher Ni content.

Zinc & Lead  Zn mkt in deficit for Jun17HY.  China to promote recycling of base metals.

Tin  China was a net exporter of tin in July, for the first time since October 2013.

Aluminium  China’s amalgamation of industry goals beginning to materialise.

Gold  India’s financial reforms may see small gold (cash economy) businesses swallowed up .

Platinum & Palladium  Outlook for platinum and palladium has growing uncertainty.

Oil  Oil &gas operators beginning to return to Gulf of Mexico rigs.

Coal  Australian met-coal markets remain firm.  RIO and Nippon agreed to higher SSCC Sep17Qtr prices.

Iron Ore  Strong Chinese economic indicators support iron ore prices.

Shipping  Cape rates stable.  Panamax rates down this week.


Port of Singapore Shipping:  continued growth of containers and tankers, but reduced bulks volumes.

Pinch Points: Cu, Zn, Ni – update.

Japan Industrial Production:  good growth.

Baker Hughes Rig Counts: Rig numbers lag oil price changes.