Commodity Review 20180720 by Andrew Pedler – Now Available

Commodity Review 20180720 by Andrew Pedler – Now Available

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


*Copper  Outlook from strong Cu prices, subject to trade war intensity.

*Cobalt Panasonic concerned about ethical integrity of its cobalt sources.

*Nickel  ING research remains cautious on Ni markets.  Contango is unusually high.

*Zinc & Lead  China’s steel will weigh on Zn, but outlook for shortages of concentrate and refined Zn deficits.

Tin  KAS moving to fund Achmmach.

*Aluminium  USA may remove Rusal from list of sanctioned organisations, after causing market havoc.

Gold  Markets watch USA Fed meeting nuances.

Platinum & Palladium  Toyota ramping up hydrogen fuel cells, leading to Pt demand.

*Oil  Saudi’s boost in production may be a bit early.

*Coal  JFY 2018-19 thermal contract settlement achieved.

Iron Ore  Market edging upward, in an uncertain environment.

Shipping  Rates inverted – Panamax’ lower than Capes’ on the Newcastle-China route.


Electric vehicle growth drives multiple metals’ demand.

Pinch Point updates:  Prices have been hit by sentiment but inventories (mostly) continue falling.

USA – New Housing Starts:  Marked drop in June starts.

USA – Industrial Production & Capacity Utilisation:  steady IP growth and consistent Cap Utiln.