| The current commodities rout – in which iron ore has plunged to within a whisker of July's lows – will continue at least until the US Federal Reserve's decision on interest rates is fully priced in, according to resources analysts. And while unwilling to call a bottom to the current cycle, most analysts believe that more downside than upside risk remains for the world's resources.
Ore with 62 per cent content delivered to Qingdao sank 4.5 per cent to $US45.58 a dry metric tonne on Tuesday night, the lowest since July 8 when it bottomed at $US44.59. Copper, oil, gold and other metals also sank overnight. UBS commodities analyst Daniel Morgan said the biggest factor weighing on commodities was the US Federal Reserve's interest rate decision in December.............................................Full Article: Source
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