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Wednesday, July 11, 2012 - Page updated at 01:30 p.m.
Metals, oil fall on China's slowdown
By The Associated Press
The Associated Press
CHINA BLUES: Prices for industrial metals and oil dropped after China's trade growth plummeted last month. China is a huge importer of raw materials, so slower growth there can prove worrisome to traders.
DOLLAR'S IMPACT: Most commodity prices fell because of a stronger dollar. Commodities are priced in dollars, and a stronger dollar makes them more expensive to traders who use other currencies such as the euro.
WHAT'S NEXT: The U.S. Agriculture Department plans to release an update Wednesday of its closely watched forecast of U.S. and global supplies and demand for major crops and livestock.
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