The coronavirus won’t wreck the commodities market

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By David Fickling | Bloomberg

A rampaging epidemic in the country that consumes about half of the world’s metals has to be bad news for mining stocks, right?

Investors are certainly making that bet. The week started with the Bloomberg World Mining Index falling the most in nearly six months, and a six-day losing streak continued Tuesday on expectations that a slowdown in economic activity will cut China’s voracious appetite for commodities.

Australian shares of Rio Tinto Group fell as much as 5.9% when trading resumed after a public holiday Monday, on track for their biggest slide in three-and-a-half years. Those of iron-ore producer Fortescue Metals Group Ltd. slumped as much as 8.7% in early trading…Full Story

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