World of commodities upside down

THE pain among energy and mining producers worsened again on Tuesday, as one of the industry's largest players cut its workforce by nearly two-thirds and Chinese trade data amplified concerns about the country's appetite for commodities.

The full extent of the shakeout will depend on whether commodities prices have further to fall. And the outlook is shaky, with a swirl of forces battering the markets.

The world's biggest buyer of commodities, China, has pulled back sharply during its economic slowdown. But the world is dealing with gluts in oil, gas, copper and even some grains.