My ST portfolio is currently ducking for cover in cash... I'm going through a whole bunch of advanced explorer/developers in the minerals industry trying to select the most promising projects for the commodities bounce in coming years.
Uranium could be the first recovery in that space... Coking coal is facing a supply/demand reversal currently which bodes well for 2015 but moreso 2016 onwards for recovery (sufficient shut-downs occuring now to rectify the over-supply from 2011/2012). IO has huge over-supply and another 55mtpa coming online next year. I don't expect big things.
Copper faces a miriad of issues on both sides. China has been stockpiling copper as a security deposit on bank loans, which means supply is such a huge fluctuation on the spot market. It's hard to tell. Supply has been tightened over the last few years with a couple of big mine closures.
Nickel and Zinc are both facing supply shortages in the next 2 years however nickel demand is hard to pin down due to the higher ratio of pig-iron to nickel steel being produced from the big eastern...
