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China pauses for breath – and knocks wind out of commodities boom

Posted on 16 October 2008

From Telegraph: Rio Tinto, the Anglo-Australian mining group, warned that the world’s biggest consumer of steel, coal, aluminium, copper and seaborne iron ore had started to show signs of a slowdown. Rio’s shares, and those of rival BHP Billiton, fell almost 10pc, wiping almost £10bn off their market values. So much for decoupling.

Miners like Rio and BHP are betting on China in a big way. The Middle Kingdom accounts for more than 40pc of the global growth in demand for major commodities, by Deutsche Bank estimates….. Full Article: Source


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VRS - who has written 41751 posts on Opalesque Commodities Briefing.


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