Commodity Review 20180720 by Andrew Pedler – Now Available
Of particular note this week read those items below marked with “*”:
SUMMARY
*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.
General
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.