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1.Market Observations, 8.Was Sticky

6 May 2017 (AFR) – Commodities collapse and Chinese credit: the driver of global reflation is now moving sharply in reverse

(6 May 2017 AFR, p23, by Patrick Commins)

China PMI and metal prices‘Plunging commodity prices should remind investors that our future economic pain or prosperity will be made in China.

‘This week the recent rapid fall in the iron ore price went up another gear. Chinese futures prices shed close to 10 per cent over three days leading into Friday. It would have been worse but for official limits on how far prices can move in a single session.

‘In London on Wednesday, copper had its worst day of trading since 2015. Commodity price indices have hit their lowest since this time last year. The S&P/ASX 300 metals and mining index (ASX:XMM) is back at November levels – unwinding all the post US-election gains.’

Read more at (might need AFR login access, or try:


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