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