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Glencore lists, commodities’ mkts collapse

 
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deanfx1
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Joined: 27 Oct 2007
Posts: 86
Location: 1 Singapore

PostPosted: Wed May 11, 2011 2:18 pm    Post subject: Glencore lists, commodities’ mkts collapse Reply with quote

As trading and mining house Glencore is listing, making some mgrs billionaires, commodity prices have fallen for a second day in early trading in Europe, led by another drop in crude oil.

This comes after markets were hit by one of the biggest sell-offs in two years on Thursday. Brent crude fell 4.3% to below $106 a barrel, adding to a 8.6% drop on Thursday, and bringing its cumulative fall over the past week to over 16%.

Industrial metals such as copper also saw further falls, as did some foodstuffs.

If this goes on, the view blogged here earlier that the Glencore IPO is a sign that commodities mkts have peaked for the time being, was a gd call.

http://atans1.wordpress.com/2011/05/06/glencore-lists-commodities-mkt-collapses/
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