Of particular note this week:

Pinch-point updates:  solid outlook – tightening.

Copper:   Indian growth to contribute to Cu growth.  

Oil:   the “death of oil” has been exaggerated.

Gold  Supply-Demand Trends

Iron ore:  Beware of simple observation of China’s iron ore imports fall for October.


Copper  Cu demand forecast to jump within five years.  Indian growth to contribute strongly.

Nickel  Terrafame Ni-Co (Finland) to commence production 2020.

Zinc & Lead  MMG – Dugald River;  MCT – Admiral Bay;  Glencore restarts not likely to upset market tightness.

Tin  Tinka Resources updated Zn-In-Ag-Pb, and Sn-Cu-Ag Resources in Peru.

Aluminium  China’s Al cut policy may not be as strong as initially expected.

Gold  World Gold org – Demand and Supply Trends:  Demand down in Sept17Qtr.

Platinum & Palladium  Will Pt substitute back for Pd at or near price parity?

Oil  Mythical assumptions about the ‘end-of-oil’ abound, but do not stack up.

Coal  HCC prices holding surprisingly well, in a tightly balanced market.

Iron Ore  China’s October iron ore imports down, but compensated by September pre-deliveries.

Shipping  Cape and Panamax rates reduced this week.


Pinch-point updates:  Cu, Zn, Ni:  All three prices and inventories tightening this week.

USA:  PMI – solid.

Baker Hughes Rig Counts:  lagging oil prices.  USA clearly the swing producer.