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Steel Prices in Asia Dropped 4%, Steel Demand and Market in China Review
Chinese spot steel prices dropped 4% to a five month low, reversing firm trade in recent weeks, as sporadic evidence of demand recovery in the auto and construction sectors failed to translate into broad based buying amid steady output growth.
Commodity Strategists: Biofuel May Cause Oil Slump (Update2) Commodity Strategists: Biofuel May Cause Oil Slump (Update2)
Crude oil prices in New York may tumble to $40 a barrel next year as demand for biofuel made from crops spurs investors to switch from energy to agricultural commodities, said Tetsu Emori, chief commodities strategist at Japan’s Mitsui Bussan Futures Ltd.
Shifting to biodiesel and ethanol additives may slow the growth of demand for gasoline [...]
