Daily FNArena News - Commodities

UBS held its fourth annual Australian Resources Conference in Sydney and conducted an audience poll, with interesting results.

They’re baaack! Evidence suggests not only are fabricators buying gold again, but so are speculators.

Next time it will all be different. Chinese steel mills are determined to dominate next year’s negotiations, but can they defy market fundamentals?

Central Banks have not sold as much gold as they are allowed to, and other central banks have not bought as expected. Curious.

Correction nearing an end before accelerating back through previous highs? Correction has more to go but eventually a more subdued upward trend will continue? The good times are over, time to settle in for a long downward spiral? Does anyone really know?

The Chinese steel mills have finally agreed to the proposed 19% price hike for contract iron ore supplies this year. BHP Billiton posted the news on its website.

Chinese steel output continues growing at breakneck pace, meaning the outlook for iron ore producers remains buoyant.

Positive newsflow has likely caused a drop in longer NYMEX oil futures, but Barclays Capital expects prices to pick up soon.

Accepting another painful public defeat in this year’s annual iron ore contract negotiations doesn’t come easy for the Chinese steel mills. However, the quest for revenge has already begun.

Gold down 7%, silver down 13%, copper down 7%. Is it Armageddon? Or just the weak, “hot” money scrambling to get out at any cost?