Daily FNArena News - Commodities

A new survey suggests mining leaders are pessimistic while the outlook for base metals, ex copper, is bullish. Geopolitical instability supports gold and palladium while iron ore is re-balancing.

Utilities are beginning to show a little interest in spot uranium purchases while greater term market demand is expected this quarter.

Speculation continues over Indonesia’s metal ore export ban as nickel exports grind to a halt. Iron ore supply pressure is mounting while aluminium markets tighten.

Two Japanese reactors have now passed the strict new safety regulations, opening the way for the first restarts.

Iron ore discounts, miner costs, small Oz resource stocks and the outlook for mineral sands, aluminium and nickel.

Global growth momentum helps base metals but bulks languish; UBS looks ahead to production reports for the Oz energy sector while JP Morgan upgrades oil forecasts.

A further delay to Japanese reactor restarts and problems for ERA’s Ranger Deeps highlighted uncertainty in a uranium spot market which was again very quiet last week.

Low inventory and recovering demand spell upside for the copper market but by how much and for whom?

Diversified miners are well placed on the swings and roundabouts of industrial commodities, while mineral sands are weak and coal is oversupplied.

Weak activity in the first half of 2014 confirms utilities are currently well covered by existing contracts and inventories, meaning no pressure to buy.