Iron Ore: Slowing China Economy Clouding Demand
Iron – Reuters reported a slowing Chinese economy clouding the demand outlook in the world's top consumer and halting producers' buying interest for iron ore.
Iron – Reuters reported a slowing Chinese economy clouding the demand outlook in the world's top consumer and halting producers' buying interest for iron ore.
Rare Earth – IBTimes reported on changes to the way China allocates its rare earth quotas.
Rare Earth – IBTimes reported that China is looking at amalgamating its rare earth sector into one giant manufacturer.
Potash – Reuters reported that shipments to China helped reduce North American potash inventories.
Coal – Bloomberg reported that sub-bituminous coal swap contracts from Indonesia fell along with prices for China deliveries.
Iron – Reuters reported Chinese low steel prices on Friday have investors doubting higher prices and dragged iron ore below $140 a tonne for the first time since February.
Commodities are lower across the board as Europe's financial situation continues to worry investors and industrial production in both China and India declines more than expected. Energy and base metal demand are expected to remain sluggish, while a rise in the greenback is keeping investors from shoring up gold.
Gold – Bloomberg reported that China's demand for gold may slow down as investors shy away due to lower prices.
Copper – Copper is holding steady following the European Financial Stability Facility's scheduled Greek bailout payment. Nonetheless, political as well as economic uncertainties are prevailing across Europe, and coupled with a decline in copper demand from China, are likely to keep copper from making any significant gains.
Iron – Reuters reported iron ore remained untraded in China on Wednesday.
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