Base Metals and Minerals

Fed regional presidents stepped in last night to explain to markets that there is no need to believe the Fed will start tapering anytime soon. Dow up 114. (Accessible only for subscribers before 10:15 AEST)

Iron ore is expected to firm a little then soften, rising coal supply is pressuring prices, while the falling AUD is helping domestic miners across the board, although there is little good news for gold.

Last night’s downward revision to US GDP confirms bad news is still good news too. Dow up 149. (Accessible only for subscribers before 10:15 AEST)

Soft term weakness in iron ore may lead to opportunities later in the year, while the lower AUD is helping Aussie miners and maybe the de-rating cycle has ended.

Positive US data pushed Wall Street up last night despite monetary policy implications. Are things going back to “normal”? Dow up 100. (Accessible only for subscribers before 10:15 AEST)

The world responded over the last 24 hours to a plunge in Chinese stocks but Fedspeak saved Wall Street from a much bigger fall. Dow down 139. (Accessible only for subscribers before 10:15 AEST)

Goldman Sachs sees iron ore pushing higher over the 2H, while Macquarie sees little upside for aluminium and UBS is predicting some supply side consolidation.

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

Wall Street tumbled, commodities crashed and gold bade farewell as the world responded in earnest to Fed tapering, and problems in China. Dow down 353. (Accessible only for subscribers before 10:15 AEST)

If the trend of US recovery continues, the Fed will start to taper later this year and cease QE mid-2014. Dow down 206. (Accessible only for subscribers before 10:15 AEST)