Posts Tagged ‘aluminum’

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Full story

Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies. The market news is quoted as saying, Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce. Full story

No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract Full story

I can’t help but read Fed Chief Ben Bernanke’s speech yesterday – in which he absolves the central bank from playing any more than an incidental role in soaring commodity prices that happened to begin in earnest when QE2 was announced last August – in light of the central bank’s poor track record in understanding what drives markets and how prices are set. Full story

Standard & Poor's expressed concerns Wednesday that record commodity prices could represent an "unsustained bubble, subject to a sudden correction." In their report, The Potential Risk of China's Large and Growing Presence in Commodities Market, S&P credit analysts noted, "Market bubbles inevitably burst, although they are much easier to recognize in hindsight." Full story

While China continues to make asset driven economic decisions and now looks like a traction control experiment where the economy is like a car that is driving on ice that doesn't yet know it, QE2 ignited the bunsen burner for commodity price speculation. Last I checked, Ben Bernanke has decided to continue on with QE2 but has decided that QE3 is probably a bad idea ... Full story

By Agnieszka Flak and Rosalba O'Brien JOHANNESBURG/LONDON, May 4 (Reuters) - Aquarius Platinum said it would boost its resource base by nearly a quarter as it announced a mineral rights acquisition that analysts say is a game changing deal for the Full story

(Source: Dominican Today) SANTO DOMINGO. - 300 Philippine workers will come to Dominican Republic to train and to share their experiences with the employees of the Canadian miner Barrick Gold. Full story

Nothing new to report from Uncle Ben and his cronies but at least there was more talk of inflation with rising commodity prices. The $2.50 range carried on in Crude again today as traders try to figure out what direction from here Full story

PITTSBURGH Alcoa Inc. starts the quarterly earnings season when it reports first-quarter results Monday after the markets close.WHAT TO WATCH FOR: Whether Alcoa has benefited from more sales of aluminum at higher prices as it copes with rising energy Full story