When metals warehouses in top consumer China are so full that workers start stockpiling iron ore in granaries and copper in car parks, you know the global economy could be in trouble.
NEW YORK (Reuters) - U.S. stocks recovered some of their losses on Monday after the S&P 500 briefly fell below a key support level, weighed down by a political impasse in Greece and mounting fears of an economic slowdown in China.
NEW YORK (Reuters) - U.S. stocks fell on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about Europe's debt crisis and fears mounted about an economic slowdown in China.
Stocks trimmed their losses but still ended in the red Monday, with the S&P 500 down almost 4 percent from its 2012 highs, weighed by political and economic worries in the euro zone.
China's rising copper inventories and slowing economic growth is casting a pall over the usually bullish mood at Cesco week in Santiago, the largest annual gathering of the world’s copper miners, traders, consumers and investors. The FT reports.
Indonesia's plan to impose a 25 percent export tax on coal may turn Indian power producers towards other coal exporting countries and increase tensions between companies and the Indian government over electricity tariffs.
Monday, 12 Mar 2012 | Posted By:
| Source: CNBC.com
The price of gold has more than doubled in the past five years, creating considerable interest in trading the precious metal. Roughly $75 billion is traded in the London bullion market every day.
Australian miners are playing down the impact of a new law in Indonesia limiting foreign ownership in mines to no more than 49 percent, even after a senior Indonesian official said the law would apply to all foreign miners.
Indonesia's central bank paused on Thursday after a series of rate cuts, and hinted at a shift in its policy stance on expectations that inflation will accelerate above its target in coming months due to a planned increase in fuel prices.
Indonesia will take more of the profits from its vast mineral resources by limiting foreign ownership of mines in a move likely to scare off new investment in the world's top exporter of thermal coal and tin.
Freeport McMoRan Copper & Gold and its Indonesian workers' union expect to sign a pay deal on Tuesday to end a three-month strike that has crippled production at the world's second-biggest copper mine, two sources told Reuters.
The big drivers for the worker strikes in Indonesia have been high prices for the commodities that are the backbone of its economy, rising costs and a strong sense that the country's widely trumpeted economic successes have not been shared.