First and foremost, China: it's clear from news coverage that Chinese demand is driving the markets. As I and others have been pointing out, we've got a bifurcated world right now, with advanced economies still depressed but emerging economies in an inflationary boom; commodity prices are reflecting the boom part of the picture.
http://krugman.blogs.nytimes.com/2011/01/29/commodities-this-time-is-different/?smid=tw-NytimesKrugman recomendado por el TL de NCS
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