Tuesday, November 6, 2012

Energy and Natural Resources Market Radar (November 5, 2012)


Energy and Natural Resources Market Radar (November 5, 2012)
Seasonal China Iron Ore Imports - U.S\. Global Investors
Strengths
  • The Global Resources Fund outperformed its benchmark in October with a loss of 0.89 percent versus the Morgan Stanley Commodity-Related Index which declined 0.99 percent.  Year-to-date through October, the Global Resources is up 6.84 percent and is ahead of its benchmark by 612 basis points.
  • Iron ore has hit three-month highs and is expected to rise for a fourth consecutive week as Chinese steel mills increase their stockpiles on hopes of a modest steel demand revival according to Reuters news.
  • China’s official Purchasing Managers Index (PMI) rose to 50.2 in October from 49.8 in September, according to the National Bureau of Statistics and China Federation of Logistics and Purchasing. The HSBC PMI for October also rose, to 49.5 from 47.9.  (more)
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