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Komfie Manalo, Opalesque Asia: A new report by Credit Suisse Asset Management showed that commodities increased in September, broadly due to fundamental supply factors.
The report said that industrial metals was the best performing sector last month after it gained 5.21%, led by nickel amid reports that the Philippines may suspend additional mines for failing to meet environmental standards as a result of the government's audit. The Bloomberg Commodity Index Total Return performance was positive for the month, with 18 out of 22 Index constituents posting gains.
Nelson Louie, global head of commodities for Credit Suisse Asset Management, said, "September was generally a strong month for commodities. Adverse weather impacted softs, particularly sugar, as frosts in Brazil and lower-than-average monsoon rain in India led to concerns over cane yields. The potential for future disruptive weather remains uncertain as expectations for a La Niña vary. "Within energy, OPEC's tentative agreement for modest production cuts boosted market sentiment. The details of the deal are not expected to be released until OPEC's meeting in November, and significant uncertainty remains. However, the provisional deal indicates that the group is once again willing to play a key role in managing global supplies ...................... To view our full article Click here
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