Commodity Trends: Markets fall as China cools

Commodity Trends: Markets fall as China cools
8 August 2010, (CommodityOnline)
http://www.commodityonline.com/news/Commodity-Trends-Markets-fall-as-China-cools-30775-2-1.html

Excerpt:

Global commodity prices have begun to soften as China’s economic juggernaut slows. The prices of steel, zinc and aluminium have fallen in the past three months. China’s manufacturing sector growth rate has dropped to February 2009 levels, when global markets had just bottomed out after the Lehman impact. While absolute price levels still remain above the year-ago levels, the softening of commodity prices is expected to impact Indian companies in coming quarters.

FMC to join band of independent regulators

Will get powers to levy fines and penalties and allow options trading in commodities. The commodities futures market is poised to get an independent regulator. The government has decided to designate the Forward Markets Commission (FMC) as the regulator for this market, according to a top government official. This market is now bigger than its equities counterpart.

At present, FMC is part of the consumer affairs department, which will soon approach the Union Cabinet for approval to introduce a Bill to amend the Forward Contracts Regulation Act (FCRA) in a way that gives statutory backing to FMC.