Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Alternative Investments > Hedge Funds

Commodities fall on China announcement

X
Your article was successfully shared with the contacts you provided.

After a brief rally led by optimistic reports from China early this week, commodity markets fell when that country announced new a new stimulus plan earlier today, the Financial Times reports. Economists expect 8 percent growth for China, compared with 0.3 percent globally and a 2.2 percent drop in the United States; Wen Jiabao, China’s premier, said the country would meet that goal this year.

Copper fell 1.5 percent to $3,690 per metric ton “new spending plans forced some of the hedge funds that were betting on further price weakness to close their short positions,” the Times writes, while aluminum dropped 1 percent to $1,345 per metric ton. Oil fell for the third week, dropping 700,000 barrels last week, against the expected 1.2 million barrel increase.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.