Jan. 14, 2015, 7:57 AM
- Mining stocks look headed for sizable losses, as copper prices sink to five-and-a-half year lows and the World Bank lowers its forecast for global economic growth.
- Glencore (OTCPK:GLCNF, OTCPK:GLNCY) -11.5% in London trading, Antofagasta (OTC:ANFGF) -7% in London, Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) -9.5% in London, Vedanta (OTCPK:VDNRF) -18% in London, Rio Tinto (NYSE:RIO) -4.3% premarket in the U.S., VALE -2.9%, FCX -5.1%, CLF -2.6%.
- BHP Billiton (NYSE:BHP) -7.5% in London and -5.5% U.S. premarket after S&P Capital IQ downgraded shares to Hold from Buy, expecting "weaker commodity prices to increasingly impact on group profits as hedges expire and see currency headwinds from a stronger [U.S. dollar]."
- ETFs: XLB, XME, SLX, COPX, VAW, UYM, CU, IYM, HAP, IRV, MXI, SMN, GNR, GUNR, PICK, MATL, FXZ, PYZ, CRBQ, RTM, CCXE, FMAT, GRES, SBM
May 14, 2012, 3:48 PM
Continued strength in the dollar weighs on commodities, sending the CRB Index -1.2%, its fifth straight loss and eighth in nine sessions. Crude oil -1.3% at $94.76/bbl, natural gas -3.2% at $2.43 per MMBtu, gold -1.4% at $1561.10/oz., silver -1.9% to $28.35/oz. CRB is now -5.5% YTD, trading at its lowest level since Aug. 2010 and below its 10-year average price of 289.3.| May 14, 2012, 3:48 PM
Mar. 20, 2012, 8:33 AM
The slides from the BHP presentation that's got markets spooked this morning. Slide 7 highlights the company's expectation that Chinese iron ore consumption - after more than quintupling between 2000 and 2012 - is not expected to be much higher in 2020 than it is today.| Mar. 20, 2012, 8:33 AM | 3 Comments
Mar. 20, 2012, 7:09 AM
Miners are leading declines in Europe following a BHP executive's comments that Chinese demand for iron ore is flattening out. Competitor Rio Tinto (RIO) quickly trotted out one of its execs to say solid growth continues in China, but the damage was done. BHP -2.9%, RIO -3.3% premarket. Aussie dollar -1.1%.| Mar. 20, 2012, 7:09 AM
Sep. 26, 2011, 10:12 AMThe powerful uptrend line from the 2008 bottom in commodities and commodity currencies have both been broken at the same time, notes Barclays technical guru Jordan Kotick. It suggests to him the post-2008 recovery is over. | Sep. 26, 2011, 10:12 AM | 4 Comments
Jun. 3, 2011, 3:50 AM
May 6, 2011, 5:25 PMIf the commodities bubble really is popping, that may not change the forecast for food - as grain traders are watching weather instead of tickers, and fundamental investors may see agriculture as "the odd one out, the attractive one in the bunch." | May 6, 2011, 5:25 PM | 5 Comments
May 5, 2011, 1:38 PM
Checking in on the great commodities fire sale (or, if you prefer, "blood bath"): the CRB index down 4.1%. Silver (down 7.8%) leading PMs downhill: gold -2.7% to $1,474.70, platinum -2.6%; copper -3.3%. Crude is falling the most the in two years, -6.7% on NYMEX to $101.98. Natgas -6% to $4.302. About the only signs of life: lean hogs up 0.5%, and ethanol's flat.| May 5, 2011, 1:38 PM
Feb. 28, 2011, 7:42 AM
A draft OECD report suggests commodity prices haven't been rising because of speculators, but because global demand is growing faster than supply. The report could accelerate efforts to boost global output of commodities, and deflect criticism that the Fed's QE2 is stoking inflation.| Feb. 28, 2011, 7:42 AM | 1 Comment
Dec. 10, 2010, 8:19 AM
In echoes of 2008, commodities, many at multi-year or all time highs, appear to be an accepted asset class. "We are seeing investors flock to commodity resources," notes an analyst, "that pattern will continue regardless if prices move higher or lower." If they move lower?| Dec. 10, 2010, 8:19 AM | 6 Comments