Commodities and economics

While global markets had factored in the likelihood of a French Presidential win for left of centre candidate Francois Hollande, it was the Greek election that caused panic about the future of the eurozone.

The price of many materials has fallen this week with less demand reported in the market and global events also having an impact, according to the latest scrap-ex price report.

Global markets for primary commodities have been spooked by global events.

The eurozone crisis is once again impacting heavily on the value of primary commodities.

Countries that export commodities should prepare for lower prices, according to the International Monetary Fund (IMF).

A range of primary commodities saw price falls following a couple of weeks of stability as the US Federal Reserve announced it was less likely to use more fiscal stimulus.

This week has seen a range of commodities fall after economic news was disappointing for both Europe and China.

Although the global economy appears to be growing, concerns remain about the pace of growth and this is having an impact on the price of virgin commodities

After Greece managed to sort out a package for cutting its debt to private investors last week, commodities picked up in price. But the rally at the end of last week has come to an end as China reported weaker import figures for January and February.