Mining Stocks Hit Hard by Recession Fears
Source: The Globe and Mail, David Ebner (9/22/11)
"Mining stocks are bearing the brunt of the market mauling."
Mining stocks are bearing the brunt of the market mauling, as investors abandon the once-hot sector in fear of a global recession that sinks demand for key industrial commodities such as copper and coal.
Every sign of weaker demand is being seized upon by investors as evidence mounts that mining is facing a swoon. Miners this week have warned of customers delaying orders and unexpected cancellation of orders. In China, prices for steel—made from coal and iron ore—are falling, and new data Thursday showed a gauge of Chinese manufacturing is in decline. . .View Full Article