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Commodities

Inside this issue
• The shares in producers find it difficult when gold and silver rise only to follow their movements painfully accurately when they fall
• Fast-moving prices have prompted more companies to hedge risks - -
Content
The problem with wild prices
Industrialisation in China has been a main driving force of the supercycle and the supply response has been slow. Javier Blas reports
Trading houses: Veil slowly lifts on a secretive profession
Javier Blas shines a spotlight on publicity-shy middlemen
Guest column: Price volatility is here to stay
Chief executives need to determine the degree to which taking price risk fits with appetite and expectations, writes John Drzik
Oil: Comfortable cushion disappears
Gregory Meyer reports on the world’s dwindling spare capacity
Precious metals: Prices go skyward but stocks remain on earth
Investors want the bullion rather than the equities, says Jack Farchy
Base metals: The sharp rise in the cost of energy has fuelled aluminium prices
The price rallied almost 30% since November, writes Jack Farchy
Codelco: In urgent need of a huge injection of investment
Jack Farchy finds creative plans at Chile’s state miner
Agriculture: Weather is more important than ever
Meteorologists have a vital role in face of fears of poor yields, reports Gregory Meyer

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