14.05.2013 - Scotiabank's Commodity Price Index posts mild decline in April
The decline in Scotiabank's Commodity Price Index in April was quite mild - down 0.2% month-over-month (m/m) - despite a sharp mid-month selloff in gold and talk of an end to the 'Super-Cycle' in commodity prices. "Financial market concern over the outlook for commodity markets was overblown mid-month," said Patricia Mohr, Scotiabank's Vice President of Economics and Commodity Market Specialist. "While China's Gross Domestic Product (GDP) slowed to 7.7% year-over-year (y/y) in 2013:Q1, from 7.9% in 2012:Q4, actual demand for raw materials was robust in China. The double-digit growth of China's passenger car market, up 20% in Q1, reinforces its importance as a driver of growth in worldwide auto demand and related commodities such as copper."..............................................Full Article: Source
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