Word: ores
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Dates: during 2000-2009
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...some eye-popping gains over the past month. The London-based index registered its 23rd straight daily gain on Wednesday, closing at 4,291, its highest mark since September and the longest streak of gains since July 2006. Daily rates for the largest Capesize ships, which typically carry iron ore, rose 6.8% on Wednesday to $93,197. Just five months ago, daily ship-rental rates were hovering just above $2,000, about the price of a great seat on opening day at the new Yankee Stadium...
...Index president Jeremy Penn cautions that shipping rates can sometimes fluctuate dramatically, and are often driven by specific factors such as carrier availability in key locations. Indeed the current boost is best explained by Chinese steel production demand and a shortage of the Capesize vessels to haul the iron ore. Penn notes that it is not yet clear whether the core manufacturing that is turning again in China is linked to coming export demand or domestic infrastructure investment. "There are always quirks in the pricing," he notes. "And at the moment it seems a very China-centric market." (Read "Plunge...
...well for adolescents, says psychologist Gregory Clarke, who pioneered the program and is a co-author of the study. "The group can be almost a Greek chorus to bounce ideas off of, " explains Clarke, who is a senior investigator at Kaiser Permanente's Center for Health Research in Portland, Ore...
Eighteen months ago, when the world was awash in asset bubbles, there was perhaps no market more overheated than commodities. Prices of everything from iron ore to palm oil to corn reached dizzying heights. Crude oil nearly quintupled in five years; rice tripled in only five months. World Bank President Robert Zoellick called rising food and oil prices a "man-made catastrophe" that had the potential to quickly erase years of progress in overcoming poverty. Pundits dusted off Malthusian theories that the planet was physically unable to support the burgeoning appetites of an increasingly wealthy global population...
...oilfields and copper mines take years to get into full production, lower investment today causes tighter supply down the road. At the same time, there is every reason to believe that emerging markets such as China and India will continue to be ever more voracious consumers of iron ore, oil and food as their economies get bigger and their citizens richer. Palm-oil prices, for example, have been rising of late partly because demand from India, with its population of 1 billion, is holding up. In March, China imported a record amount of iron ore and coal, while imports...