From Iron Ore to Corn, Commodities Cool With China in Focus
- Iron ore plunges into bear market this week on demand worries
- Weather and Chinese demand will fuel grain price volatility
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Wild swings in commodities ranging from farm products to industrial metals are here to stay as traders brace for more market volatility in the wake of Chinese government moves to curb prices.
Futures cooled this week for raw materials including iron ore, corn, wheat and copper, though traders and analysts say it’s too soon to count out agricultural crops and metals. While the Bloomberg Commodity Spot Index, which includes energy, has tumbled 2.4% in the past two weeks, it’s still up 19% for the year.