The Traderszone Network

Published in TZ Latest News 29 September, 2015 by The TZ Newswire Staff

Commodities in crisis as Asian shares tumble and shipper files for bankruptcy

SINGAPORE/HONG KONG (Reuters) – A Japanese shipper filed for bankruptcy on Tuesday and global trading firm Louis Dreyfus posted lower profits, the latest victims of tumbling energy and raw material prices. The London-listed shares of mining and trading giant Glencore rebounded by around 10 percent, clawing back some ground from a near 30 percent slump on Monday. Glencore has been afflicted by the same issue facing other miners: the prolonged fall in global metals prices caused partly by a slowdown in China, which is the world’s biggest consumer of metals.