ProShares Ultra Basic Materials seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Dow Jones U.S. Basic Materials IndexSM.
See more details on sponsor's website
Tuesday, March 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.
3 Comments[Global & FX, Commodities]
Tuesday, March 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%.
Comment![Global & FX, Commodities]