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COLUMN-"New normal" of weak commodity prices, strong volumes in Australia forecasts: Russell

LAUNCESTON, Australia, July 1- "New normal" is a term coined about China's transition to slower but hopefully more sustainable economic growth, but it can be equally applied to many commodity markets. The big picture is that Australia is receiving less money for its commodity exports, with the value dropping 11 percent to A $174 billion in the 2014-15 fiscal year...
Source: Reuters | By: Clyde Russell
Airbus wins $1.3 billion South Korean airborne tanker deal

SEOUL, South Korea- South Korea said Tuesday that it has decided to buy four military airborne refueling tankers from European aerospace giant Airbus Defense and Space for $1.3 billion. Airbus edged out bids from the U.S. Boeing Co. and Israel Aerospace Industries in the competition to provide South Korea its first such tanker aircraft, Seoul's Defense...
Source: The Associated Press
Pope challenges world to clean up its filth

In "Laudato Si," Francis addressed "every living person on this planet," urging them to hear "both the cry of the Earth and the cry of the poor" about the damage from "compulsive consumerism," waste and a single-minded pursuit of profit. Francis said he hoped his paper would lead both ordinary people in their daily lives and decision-makers at the Paris U.N. climate...
Source: The Associated Press | By: By NICOLE WINFIELD, RACHEL ZOLL and SETH BORENSTEIN, Associated Press
Slide in China steel snuffs iron ore rally, revives glut worries

Iron ore surged 40 percent from a decade-low in just over two months as dwindling stocks at China's ports suggested tighter supply in a market that had been hit hard by plentiful ore. But China's appetite for steel has been shrinking as its economy slows and is now taking a further hit as construction eases over the summer, forcing mills to cut production.
Source: Reuters | By: Manolo Serapio Jr and Ruby Lian
Pope: Earth looking like an 'immense pile of filth'

Pope Francis demanded swift action on Thursday to save the planet from environmental ruin, urging world leaders to hear "the cry of the earth."
Source: Reuters
Pope challenges world to clean up its filth

VATICAN CITY- In a sweeping environmental manifesto aimed at spurring action, Pope Francis called Thursday for a bold cultural revolution to correct what he said was a "structurally perverse" economic system in which the rich exploited the poor, turning Earth into an "immense pile of filth." Francis framed climate change as an urgent moral crisis to address in his...
Source: The Associated Press | By: By NICOLE WINFIELD, RACHEL ZOLL and SETH BORENSTEIN, Associated Press
COLUMN-China steel, iron ore divergence unlikely to persist: Russell

LAUNCESTON, Australia, June 17- Something has to give in the Chinese steel sector, given the disconnect between record low steel prices and a recent strong rally in iron ore. While Dalian Commodity Exchange iron ore futures did drop on Tuesday, falling 1.4 percent to end at 442.5 yuan a tonne, the contract rallied 21 percent between its record low on April 10 this...
Source: Reuters | By: Clyde Russell
Mideast oil powers Saudi Arabia, UAE to cut gasoline imports

*Saudis, UAE to cut gasoline imports as refining capacity grows. SINGAPORE, June 15- Middle Eastern oil producers Saudi Arabia and the United Arab Emirates will sharply cut or even halt costly gasoline imports next year after ramping up new refining capacities that put them a step closer to becoming exporters of the motor fuel. The estimated loss of at least...
Source: Reuters | By: Seng Li Peng
UPDATE 2-Iron ore at highest since Feb as China port stocks drop further, futures climb

SINGAPORE, June 10- Iron ore held at its highest level in nearly four months on Wednesday as stocks at China's ports dropped for the eighth consecutive week, helping entrench a recent recovery in prices. Futures of the steel-making commodity in Singapore and China jumped on Wednesday, with iron ore in Dalian hitting its highest since March.
Source: Reuters | By: Manolo Serapio Jr
Cramer: Market all about the dollar  

Mad Money host Jim Cramer looks ahead to market moving events, data, and earnings set to take place next week.
Source: CNBC.com