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The commodities supercycle is probably ending this year as China’s economic growth slows and the nation focuses less on infrastructure and urbanization, Citigroup Inc. said. This year will probably signal “death bells” for the supercycle, or a longer-than-average period of rising prices, Citigroup said in a report dated yesterday, reiterating similar calls made last month and [...]
Commodities finished today’s session mostly lower, on a day where major macroeconomic data was absent from the economic calendar. Oil futures were range bound, awaiting the latest supply data. The precious metals finished lower ahead of Ben Bernanke’s testimony in front of congress and the latest FOMC minutes, on tap for tomorrow. Today’s major movers [...]
On Tuesday, European regulators raided the offices of various oil majors, including BP and Shell, investigating whether accusations that they have colluded to rig oil prices since 2002. The European commission acknowledged that the unannounced inspections were to investigate claims that these oil majors may have “colluded in reporting distorted prices to a price reporting [...]
Gold producer Newmont Mining (NYSE:NEM) today reported that its first quarter net income was $315 million or $0.63 per share, compared to $490 million or $0.97 per share in the comparable quarter last year Adjusted earnings for the quarter were $354 million or $0.71 per share compared with $578 million or $1.15 per share in Q1 2012. Analysts polled by Thomson [...]
While farmers are planting record numbers of crops to compensate for last year’s drought, and to profit from high prices, the grains are getting off to a bad start thanks to the weather. The coldest start ever to the wheat-growing season in Kansas and freezing weather across the southern Great Plains are compounding damage to [...]
Today the EPA will issue a proposal on toxic waste disposal, pressured by environmentalists who are calling for a ban on the use of slurry ponds to dispose waste left over from the burning of coal to generate power. The regulations on water discharges will add to EPA measures on coal-fired generators issued since Obama [...]
Commodities slid to a nine-month low today with gold posting its worst daily performance since 1980 after China’s economic growth unexpectedly slowed. Losses extended after explosions hit the Boston Marathon, but most of the losses were experienced before the shocking development. The Standard & Poor’s GSCI gauge of 24 raw materials dropped 2.3 percent, its [...]
Today the IntercontinentalExchange announced that it will launch 35 new energy, environmental, freight and ferrous metal contracts on April 29, 2013. The following contracts will be listed on ICE Futures Europe: Global Crude Oil Futures and Options Contracts Brent 6-Month Calendar Spread Bullet Future Brent 6-Month Calendar Spread Option Dated Brent (Platts) Average Price Option1 Dubai 1st Line [...]
The famed doom and gloom investor Jeremy Grantham has recently become an outspoken advocate for the idea that many important commodities will become scarce in coming years. Grantham believes natural gas, copper and phosphorus are the perfect investment for those who want to make lots of money over the next few years. Speaking at a conference [...]