Of particular note this week:

Copper:  solid outlook

Nickel:   stronger focus on battery metal properties.  Segmented supply means some nickel production does not all serve batteries well.

ICE vs EV cars outlook:  The (imminent) death of ICE has been exaggerated

Oil:   OPEC will likely extend restrictions beyond March 18.


Copper  Outlook on copper.  Solid fundamentals leading to deficits through next year.  Ethical supply issue.

Zinc & Lead  Glencore says market is s till to volatile to restart its idled capacity. (Pinch-point graph showing price response to low inventory).

Tin  Tin demand growing.  A key issue is sourcing ethical supply.

Aluminium  Scepticism on scale of Chinese production cuts.

Gold  Prices largely driven by currencies this week.  Novo Resources sparks run on metal detectors.

Platinum & Palladium  World Bank forecasts increasing Pt prices.

Oil  Russia and Saudi Arabia support an extension of OPEC restrictions (from March 18).

Coal  Supply shortfalls looming.

Iron Ore  World Bank forecasts iron ore price to fall, while UBS forecasts stable avg price, through winter.

Shipping  Shipping daily charges were stable wk-on-wk.


ICE vs EV cars growth forecasts:  The imminent death of ICE is exaggerated.

Pinch-point graphs (Cu, Zn, Ni) – updated:  improving with tighter markets.

World Steel:  +6% yr-on-yr growth and avg daily growth rate of +1%.

USA Durable Goods, Vehicles, Computers & Electronics:  solid growth.

Singapore Ship Traffic:  good growth, bulks, tankers containers.