yields, pinch-points – USA durables
Comments of particular interest are noted with ‘*’. … really! Do read these! *
- Cu: Chile, Peru
- Co: DRC reinstates export ban
- Zn-Pb China’s smelters under power restrictions (last week)
- Al: bottlenecks at Exchanges.
- Iron Ore: Supply is being added cautiously, assuming demand growth will slow!
- Oil: major industry analysts disagree on outlook
- Emerging projects / companies:
- Eeraheedy -Zn-Pb (RTR & ZNC)
- Mt Lindsay Sn (VMS)
- Ta Khoa Pt-Pd (BSX)
*Copper Chile miners strike. Peru plans to raise taxes. Ivanhoe opens new Cu-Co mine in DRC.
*Cobalt DRC has reinstated an export ban on Cu & Co concentrates.
*Nickel Roskill’s outlook for battery demand for Ni. Ni industry is seeing shifting dynamics.
*Zinc & Lead RTR & ZNC drilling Eeraheedy Zn-Pb for a large Resource. Pb spot TC’s have reduced sharply.
*Tin VMS advancing its evaluation of the large Mt Lindsay project. Tin is now a new energy metal.
Aluminium Strong demand & tight supplies, with bottlenecks at exchange warehouses. Consumption is up.
Gold Prices up as uncertainty re- the USA economy continues, and the world recovery continues.
*Platinum & Palladium BSX’ Ta Khoa project’s PGE recoveries. London Platinum Week & Shanghai Platinum Week.
*Oil Rystad Energy – ‘000s of wells and fields needed even if oil demand reduces by 2050.
Coal HCC prices consolidated gains. Thermal prices expected to remain elevated.
*Iron Ore Major miners tempering their growth. Smaller new miners carefully not making prior boom errors.
Shipping Cape rates benefitting from iron ore. Panamax & Supramax rates stable in Asia.
*USA Treasury Yields: A shift in inflection point is encouraging, suggests a recovery is in sight.
*Base Metal Pinch-points: things are getting really tight. Sentiment is taking back seat.
*USA – Durable Goods, Vehicles, Computers: mixed outcomes by sector due to Covid-19.