By Michael Tamvakis
What impacts the availability of oil? How very important is the elements in opting for grain costs? Why has the cost of copper skyrocketed?
This specific book analyses the economics of key commodity teams, together with power, agriculture and metals. It examines the supply/demand basics of numerous significant and minor commodities, actual features, construction and intake styles, exchange flows and pricing mechanisms. It additionally explains the major instruments used to hedge rate hazard, reminiscent of futures, recommendations and swaps.
This moment version include has been totally revised and restructured, and includes four new chapters, together with oil refining, electrical energy and value threat administration for power, metals and agricultural commodities
This e-book is an imperative reference textual content for college kids, teachers and people operating within the commodity business.
Read or Download Commodity trade and finance PDF
Best banking books
Manias, Panics and Crashes, 5th version is a scholarly and wonderful account of how that mismanagement of cash and credits has ended in monetary explosions over the centuries. protecting such themes because the historical past and anatomy of crises, speculative manias, and the lender of final inn, this publication has been hailed as 'a precise vintage .
Banking privatisation represents one of many significant forces that are considerably altering the banking region in Europe. learning the method of banking privatisation hence is helping to appreciate the dynamics of the field. This booklet analyses - from the viewpoint of either advertisement banking and funding banking - some of the techniques of banking privatisation in Europe and their results at the options and buildings of banks.
This e-book is set the mundane, neighborhood, each day practices that constitutes democracy. targeting France and Finland, the publication defines politicization because the key technique in realizing democracy in numerous cultural contexts and shows a nuanced photograph of 2 contrary versions of ecu politics.
Overseas Direct funding in Brazil: Post-Crisis fiscal improvement in rising Markets explores either the inward and outward methods international direct funding (FDI) can assist Brazil maintain monetary development and improvement within the occasionally adversarial post-global situation period. Inward and outward FDI have significant roles to play in reviving Brazil’s progress momentum and the country’s transition to a brand new progress paradigm much less depending on commodity exports.
Extra resources for Commodity trade and finance
For example, to produce steel (in a basic oxygen converter), we need iron ore, steel scrap, limestone and other alloying metals (such as manganese), in addition to coking coal, which is our energy input. This is, of course, on the assumption that capital (in the form of the steel mill) and skilled labour are already in place. The combination of these production factors yields different levels of production of the particular good, depending always on the technical characteristics of each industrial process.
It is the relentless technological innovation, particularly in oil and gas exploration, which has brought on stream reserves that would have been economically unviable in the past. These are the so-called unconventional reserves, which we discuss later. 3 Long-run average total cost curve Source: Author The puzzle becomes even more complicated when government policies are taken into account. Just as a brief example, let us look at energy policies first and then fiscal regimes. Energy supplies are of strategic importance to every government worldwide.
In the oil sector, for instance, capital expenditure for field development may range from ‘low-cost’ to ‘frontier areas’. 4 shows a range of average production costs in various parts of the world. These are reported by US companies that operate around the world and report back to the Energy Intelligence Agency of the US Department of Energy. They do not reflect the full range of costs incurred across all oil and gas fields, but give a good idea of how broad this range can be. 5). 5, p. 406) We will revisit the supply-side economics of the individual energy commodities in their respective chapter, but having covered some of the common fundamentals, it is now time to move to the demand side.