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Commodities Briefing - Categorized | Financial, Market Moves more

Banks retreat from commodities markets

Posted on 23 July 2013

Over the past decade, Goldman Sachs Group Inc., J.P. Morgan Chase & Co., and Morgan Stanley bought oil pipelines, metal warehouses and power plants, seeking profits by planting themselves at the center of the global supply chain for industrial materials. Government officials, companies and consumer groups have warned of pitfalls they say arise from allowing banks to play so many different roles in a market.
Those criticisms—and a steep drop in the prices of many commodities since the financial crisis—have led banks to sell assets and reduce trading positions. Banks’ commodity revenue is on track for $3.4 billion this year, a roughly 75% decline from five years ago, according to Coalition, a research firm………………………………………..Full Article: Source


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