Wednesday, December 9, 2015

commodity prices dip

Steel pipes wait to be loaded on to ships at Lianyungang, in eastern China's Jiangsu province [BBC]
What I know about commodities is negligible to non-existent, but the following tale of sagging prices caught my attention as the kind of thing that will come knocking on my own, quite-personal door:
Mining shares have continued to fall in the face of low commodity prices.
Shares in Anglo American, which fell more than 12% on Tuesday, fell another 10% on Wednesday morning in London.
The group announced on Tuesday it would cut some 85,000 of its workforce in a massive restructuring.
Among the major commodities only oil managed to stage a slight recovery, with Brent crude rising above $40 a barrel in Asian trade.
However, most analysts believe that any recovery will be short-lived with the world continuing to face a glut of commodities.

1 comment:

  1. Nah, 'murica does nothing but grow, grow, grow?

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