Big iron ore miners like Vale S.A. (NYSE: VALE), Rio Tinto PLC (NYSE: RIO) and BHP Billiton Ltd. (NYSE: BHP) have cut capital spending on new production, but they may find that they must pull it in even more. Silver producers like Coeur d’Alene Mines Corp. (NYSE: CDE), Pan American Silver Corp. (NASDAQ: PAAS) and Hecla Mining Co. (NYSE: HL) have struggled with low silver prices for the past two quarters or so.
According to a report at Bloomberg, the Commodities Futures Trading Commission (CFTC) said silver, rubber, and corn turned short in the week ending April 2. We noted several issues with corn last week, including more U.S. planting this year and larger stockpiles. But silver has plunged as well, to levels near a bottom posted last July just above $26 an ounce.
Crude oil, iron ore, copper, aluminum — it is difficult to find a commodity that is expected to be in short supply. And stockpiles are expected to continue rising, putting even more pressure on prices.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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