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Commodities Briefing - Categorized | Financial, Trends more

China slowdown makes global commodities bearish

Posted on 18 October 2013

Commodities remain the world’s worst-performing asset class this year, with the benchmark Dow Jones-UBS Commodity Index falling 8.95% year-to-date. A number of factors have conspired against commodities like gold and copper this year, but a key reason is China’s slowing growth.
The Asian giant accounts for more than 40% of global demand for iron ore, lead, copper, aluminum, zinc and nickel, and its economic slowdown has hurt production and demand for a number of commodities. “Also note that China represents 40%-50% of global industrial metals demand, compared with just 12% of global oil demand, and year-to-date base metals prices are down 15% versus just 3% for oil,” said PIMCO, a major investment financial institution………………………………………..Full Article: Source


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