Analyst Say Commodities are Bound to Rise
Gold To Shine Again As Global Growth Thaws Commodities 7/15/2013 Don’t let depressed commodity prices fool you. They won’t stay depressed too long. The single most important global economic reality remains resource scarcity. At last, I see short-term commodity price depressants starting to dissipate. Very shortly, the overwhelming consensus against commodities will start to shift, possibly as early as yearend. Then the long-term upward climb of commodities will resume. Commodities slid mainly due to Europe’s fixation on austerity. They began to fall in 2011 at about the time the European Union started to falter. The euro zone hasn’t posted a single quarter of GDP growth since mid-2011. Overall regional unemployment stands well into the double digits, while auto sales hit generational lows. Even Germany, Europe’s economic powerhouse, is barely growing. Weaker economies, including Spain and Greece, sit mired in full-fledged depressions. As Europe represents the largest economic entity in this…
30-day Copper Slump Ended
Base Metal Prices Roundup: US Copper Prices, LME Aluminum Up June 27, 2013 Copper Price Trends The price of US copper producer grade 110 moved up 1.4 percent on Wednesday, June 26, making it the day’s biggest mover. After hitting a 30-day low on Monday, June 24, the price of US copper producer grade 122 rose 1.4 percent yesterday. Just off of a 30-day low, the price of US copper producer grade 102 rose 1.3 percent yesterday. The Japanese copper cash price held steady. Chinese copper prices were mixed for the day. The price of Chinese copper wire rose 0.6 percent yesterday, just off the 30-day low it hit on Monday, June 24. After hitting a 30-day low on Monday, June 24, the price of Chinese copper bar rose 0.6 percent yesterday. The Chinese copper cash price rose 0.6 percent yesterday. The price of Chinese bright copper scrap held steady.…