Base Metals and Minerals

Rio Tinto has delivered a solid production report for the December quarter, with better than expected output in iron ore and copper the highlights.

Commodity price support is shifting from hopes of an economic recovery to real expectations of increasing demand.

After the volatility of 2009 this year should be a transition period according to Russell Investments, which offers its view on a number of asset classes for the year ahead.

Commonwealth Bank expects the Australian economy will deliver near-trend growth in 2010, better than the sub-trend performance expected for the global economy as a whole.

Mixed economic data failed to excite an otherwise disinterested Wall Street last night. Dow unchanged.

The S&P marked a new high last night as a positive home sale number spurred on buyers in a thin market. Dow up 50.

AWAC, Alumina’s 40/60 joint venture with Alcoa, is set to become the sole supplier to Saudi Arabia’s new aluminium industry.

A surge in M&A activity and broker upgrades sent Wall Street higher last night despite a stronger greenback. Dow up 85.

Given potentially the most resource intensive recovery since the 1970s, UBS remains positive on the outlook for commodity prices in 2010 and beyond.

Quadruple witching brought the volume and an Iranian incursion into Iraq provided some concern, but we ended up back where we started. Dow up 20.