This week’s comments of particular interest are noted with ‘*’.


*Copper  Strike at Chuquicamata & threat of strike at Escondida.  Sentiment concerns are of growth. .

*Cobalt Relative Price weakness is expected to be temporary.

*Nickel  NPI output increased to a third of finished Ni unit output.

*Zinc & Lead  Zn TC charges increased.  Trump’s trade ware escalates.

Tin  SRZ, KAS, VMS – emerging tin production.

Aluminium  Trump’s tariff war has limited the numbers of available (Al) cans for beer in Canada.

Gold  Thieves used a sewerage truck to steel gold from a mine near Kalgoorlie.

Platinum & Palladium  Supply cuts by major producers may prompt prices to respond.

*Oil  USA’s crude exports slowed as offtake to China (its largest buyer) has reduced buying from USA.

*Coal  USA met coal exports making larger inroads to Asian markets.

Iron Ore  Iran’s steel, metals & minerals trade likely to be curtained sanctions, but not so much iron ore.

Shipping  Cape rates up on iron ore demand.  Panamax rates down slightly.


RBA – Index of Commodity Prices:

*PinchPoint updates:  Cu, Zn, Pb, Al points are n the volatile nose zone.  Ni is heading there.

USA – PMI :  slower growth this month but still indicating a strong growth outlook.

*USA – Construction Spending :  Strong growth.  Would actually like to see it slow and stabilise someqhat

*Japan – Industrial Production:  slower growth for June, though stronger outlook for July & August.