Nickel prices gained buoyed by the first acceleration in China's GDP growth in seven years- 22 Jan 2018 ~ commodity expert

Gold Prices Inch Up In Asia As US Shutdown Weighs On Dollar Views.

Gold prices rose slightly in Asia on Monday with the market awaiting word on a possible deal for a Senate vote to end the US government shutdown that has weighed on the dollar and raised interest in greenback-denominated commodities such as the yellow metal. The US government shutdown on Saturday extends into the new week with all but essential services curbed and many of the regularly schedule data releases possibly delayed if the failure to provide stopgap funding continues. The Bank of Japan starts a two-day monetary policy meeting with the decision on Tuesday expected to be closely watched for any signs the aggressive easing stance could be dialed back this year. Investors will be focused on the outcome of monetary policy meetings by the ECB and fourth quarter growth from both the U.S., if it is released during the shutdown, and the UK. Canadian inflation data will also be in focus after last week's rate hike by the country’s central bank.

Historical data show dip in LME aluminium prices following US government shutdowns.

Historical data show a dip in LME aluminium prices following US government shutdowns from 1990. From October 5-9, 1990, LME aluminium fell 2.3%, or $43/mt, that week when President George Herbert Walker Bush vowed to deny any sustainable bills excluding deficit cut scheme, which leads to four-day shutdown of the government. LME aluminium fell 2.3%, or $43/mt, that week. LME aluminium dipped 0.1%, or $2/mt, in the week of November 13-19, 1995 when the government shut down for five days.

Nickel prices gained buoyed by the first acceleration in China's GDP growth in seven years.

Nickel on MCX settled up 1.55% at 807.8 buoyed by the first acceleration in China's GDP growth in seven years. China's economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years. The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small. News reports suggested that four nickel ore miners in Zambales were involved in local environmental disputes and shipments from the region have been affected.

Oil rises as Saudi Arabia says producers will cooperate beyond 2018.

Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that cooperation between oil producers who are currently withholding supplies would continue beyond 2018. Strong global economic growth and a drop in U.S. drilling activity also supported crude, traders said.Saudi Arabia, the world's top oil exporter and de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday major oil producers were in agreement they should continue cooperating on production after their deal on supply cuts expires this year. "There is a readiness to continue cooperation beyond 2018...The mechanism hasn't been determined yet, but there is a consensus to continue," Saudi Arabia's Energy Minister Khalid al-Falih said in Oman.

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