Market Update

General - Strike

Good afternoon

US chief-diplomat Trump held a wonderful speach last night - his fans will be happy with him!

Base metals are having another positive day today - nickel is up by 2.5%, followed by zinc with 1.3% in the afternoon. 

Iron ore and steel had a fair setback over the last 3 weeks or so - but certainly BHP and RIO would still be extremely happy with todays prices in the high sixties. For producers of inferior quality like FMG things are still good, but harder, given the record-discounts being offered for this type of iron ore. Given the enviromental clamp-down in China, this is not going to change soon, I fear.

But coking coal and thermal coal are still trading at great levels...way above long term price forecasts.

Not all that much to report on the micro-side today, except for one of my favourites, 

Strike Energy - who are raising cash today. I understand, that there is a lot of interest - but details are still confidential at this point and will be announced tomorrow.

Have a nice evening