Just as telling, the premium for spot copper over the nearest forward contract jumps up when buyers worry about being able to get their hands on the stuff.

ECONOMIST: Buttonwood

Commodities like oil, copper and iron ore just relapsed and both metallurgical and steam coal spot prices stick in the dumps despite serious cutbacks in production, worldwide.

FORBES: White Swans Beat Up On Black Swans

Citigroup estimates that the spot price is below the production costs for 15% of copper producers, 25% of aluminium producers, 50% of zinc producers, 30% of nickel producers and 10% of iron-ore producers.

ECONOMIST: Fortunes in the mining business come and go faster than ever