In the Australian press this morning, Canada, China and Saudi Arabia give reason for commodity exporters to cheer
it says that amidst the commodities gloom, some analysts point to some rays of hope
They say sentiment is so bearish towards commodities, that any one of these three factors could trigger a sizeable rebound in prices:
- Saudi Arabia's official press agency says the country is willing to cooperate with other oil producers to maintain a stable oil market
- China's New Silk Road should also provide a new source of demand for industrial commodities, such as copper (which is trading close to a six-year low) and iron ore
- Canada's new PM promising $C60 billion in infrastructure spending
There is more detail at the Australian Financial Review, here. it appears to be ungated.
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Positive signs for commodities? Or is hope still a four letter word?
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ps. yeah, I really should stick the Ian Dury song in here given the headline .... but, too predictable.
Lets try this one instead:
