USA, Durables & Yields

Comments of particular interest are noted with ‘*’.  

Matau’s Comments:

  • USA economy recovery may be slowing a bit but is still basically positive. Vehicle orders backed off a bit in February.
  • USA bond yields continue to lift slowly.  Real USA 10yr bond yields are almost up to 0.0%.
    • USA real 10yr bond yield has just turned positive.  Still lower than the real Aust 10yr yield, hence a robust AUDUSD rate. 
  • Gold price has been jittery, following USD variations.
  • A number of sound base metals projects are being advanced through toward production, as their respective markets continue to tighten.


Copper  Copper prices following equities markets’ optimism over global economic recovery. 

*Cobalt  Cobalt consumption in 2020 up 29%.  Glencore – Murrin Murrin.  COB.  

Nickel  Chemistries of EV batteries.

Zinc & Lead  China’s Cu & Zn  smelters benefitting from byproduct H2SO4 sales.  EV batteries.   

Tin  Tin supply has reduced markedly, esp in Indonesia.      

Aluminium  Ship stuck in the Suez exacerbated Al billet shortage in Europe.

*Gold  Choppy trading this week, influenced by USD moves. 

Platinum & Palladium  Hydrogen fuel technologies anticipated to support platinum. 

*Oil  Oil prices (esp in Europe) increased on concerns of Suez disruption. 

*Coal  Unusual swaps being done in coking coal to get around China’s bans. 

*Iron Ore  Prices increased, supported by strong steel prices. 

*Shipping  Asian freight rates gained this week amid heavy rains and floods. 


*USA – Treasury Yields:  slowly rising, with improving outlook.

*USA – Durable Goods, Vehicles & Electronics:  +ve growth for durables & electronics.