| Flush from a collapse in everything from oil to aluminum to cotton, commodity bears are taking a break. A measure of returns from 22 raw materials advanced on Tuesday, recovering from the lowest level since 1999 on concern a slowing Chinese economy will exacerbate supply gluts. Shares in miners and explorers outside China including Glencore Plc, Fortescue Metals Group Ltd. and Antofagasta Plc recouped some losses after a selloff that wiped $2.7 trillion from global equity markets.
“Short-term stabilization is possible but that doesn’t mean it cannot fall further,” Dominic Schnider, head of commodities and Asia-Pacific foreign exchange at UBS Group AG’s wealth-management unit in Hong Kong, said by phone. “The headwinds are still there.”..............................................Full Article: Source
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