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« UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal | Main | What Recovery? 9.4 Million More Americans Below Poverty Line Than Pre-Crisis »
Monday
Sep282015

With Glencore, Commodity Rout Beginning to Look Like a Crisis

Sell-off stems from falling China demand, end to easy money

Markets may be in 20-year `bear super-cycle,' researchers warn

The 15-month commodities free-fall is starting to resemble a full-blown crisis.

Investors are reacting to diminished demand from China and an end to the cheap-money era provided by the Federal Reserve. A Bloomberg index of commodity futures has fallen 50 percent since a 2011 high, and eight of the 10 worst performers in the Standard & Poor’s 500 Index this year are commodities-related businesses.

Now it all seems to be coming apart at once. Alcoa Inc., the biggest U.S. aluminum producer, said it would break itself into two companies amid a glut stemming from booming production. Royal Dutch Shell Plc announced it would abandon its drilling campaign in U.S. Arctic waters after spending $7 billion. And the carnage culminated Monday with Glencore Plc, the commodities powerhouse that came to symbolize the era with its initial public offering in 2011 and bold acquisition of a rival in 2013, falling by as much as 31 percent in London trading.

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Is it gold's turn next to feel the winds of capitulation.

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