December 15, 2015

Chinese commodity demand: Crisis. What crisis?

Tuesday was another bleak day on commodity markets.

The price of crude oil ($37.65) and iron ore ($38.80) dropped again and the globe’s two most traded raw materials are now at levels prior to the word supercycle even entering the popular lexicon.

Similarly precious metals and industrial continued to drift lower with bellwether copper exchanging hands barely above seven-year lows ($2.04) and coal (thermal $51, coking $72) continuing its inexorably decline.

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STOCK QUOTES PSE: FNI (As of Mar 23, 2017) OPEN: 2.43 HIGH: 2.59 LOW: 2.43 CLOSE: 2.57 CHANGE: +0.19 (7.98%) VOLUME: 11,820,000