Despite all the geopolitical uncertainty, the world appears to be reporting good economic growth, volatile rhetoric, but reasonably consistent growth.

Of particular note this week read those items below marked with “*


Copper  Potential copper hot-spots on the Qld-NT border – upon release of new government data.

Nickel*  Demand outstripping supply.  Stainless then batteries drive demand.  Supply uncertain at present.

Zinc & Lead  Dugald River (MMG) commenced production.  PEX has new drill results.  G1A adds new results.

Tin  TNT Mines (TIN) working up new Sn-W project in Tasmania.

Aluminium  LME warehouses suffering delivery delays, again.

Gold  Very little movement in the Au price.

Platinum & Palladium*  Is Norislk Nickel too large to sanction.  The impact would be significant.

Oil*  OPEC & Russian cuts holding well.  Risk of US sanctions on Iran.

Coal  Met-coal outlook softer.  Thermal holding well.

Iron Ore  Increased prices in steel and futures markets buoy iron ore.  Pt Hedland exports up.

Shipping  Shipping rates up this week on good demand.


Baker Hughes Rig Counts:  Price sensitive & lagging oil price.  Some calling for USD 100/bbl oil.

Pinchpoint updates- Cu, Zn, Ni, Pb, Sn, Al:  Still tending to tighten, though uncertainty is evident.

Japan – :LNG prices:  turning up to follow oil prices.