Investors flee slumping commodities
Dumping has accelerated in tandem with the closure of several hedge funds that specialise in commodity trading
London
BANKS, pension funds, traditional and hedge fund managers and individuals are fleeing commodities in highly volatile markets; and banks which promoted raw materials as an investment have been admonished.
"Pessimism is the dominant force in the copper and other commodity markets in sharp contrast to the general optimism in 2014," said Simon Hunt, head of Simon Hunt Strategic Services, a consulting firm that regularly does business in China. "It has reached the point of what we would call capitulation."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns