Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Monday, January 14, 2008

News You Can Use for Monday

Big miner mergers continue …

Vale do Rio Doce May Buy Xstrata to Diversify Its Portfolio, Liberum Says Cia. Vale do Rio Doce, the world's largest iron-ore exporter, may buy Xstrata Plc to diversify its production and gain access to U.K. investors, Liberum Capital Ltd. said.

While commodity prices -- and demand -- heat up ...

Copper Rises in Asia as China Imports Reach 8-Month High, Commodities Gain Copper prices rose in Asia after imports of the metal by China, the world's largest user, reached an eight-month high and as investors bought raw materials as an alternative to a declining dollar.

Crude Oil Advances as Qatari Minister Says OPEC Unable to Control Prices Crude oil rose for the first time in four days after Qatar's Energy Minister Abdullah al-Attiyah said OPEC is unable to temper near-record prices.

Chicago Soybeans Advance to Record on Output Drop; Corn at 11-Year High Soybeans in Chicago extended gains to a record after a government report showed global production will fall as demand increases for animal feed, vegetable oil and fuel made from crops. Corn futures rose to an 11-year high.

But if commodity demand is heating up, why is everyone worried about Asia's growth? ...

Goldman Sachs Cuts Asian Growth Forecast as U.S. Economy Nears Recession Goldman Sachs Group Inc. reduced its growth forecasts for Asia on concern an expected recession in the U.S. will erode demand for the region's exports.

China's Growth-Slowing Efforts May Kick In at Worst Time for World Economy China is starting to gain control of its turbocharged economy, just as a U.S. slowdown raises the risks of doing so.

Labels: , , ,

Check out my new gold and energy blog at