Commodities News
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The 28 percent plunge in zinc that drove the metal into a bear market may be ending as record demand from steelmakers erodes stockpiles and the price slump spurs producers to curb output.
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Rice farmers near Japan’s crippled Fukushima nuclear plant will impose radiation safety limits that will only clear grains with levels so low as to be virtually undetectable after government-set standards were viewed as too lenient, curbing sales.
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Oil dropped for a second day in New York as investors speculated that fuel consumption will falter amid signs of a weakening global economy. Brent’s premium to U.S. prices widened.
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Gold advanced for a second day as expectations that Slovakia will approve Europe’s enhanced bailout fund strengthened the euro and increased the appeal of the metal priced in U.S. dollars.
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