Commodities Comment:Cutting deep into the cost curve

Feature article

    Like a hot knife through butter, most commodity prices are now slicing withrelative ease into industry cost curves. Given that for many metals and bulksthere is an imminent need to take capacity offline amid clear oversupply, thisis natural at the current point in the cycle. Concepts of cost support are thusless relevant in the short term where it is all about inflicting enough pain toforce hard decisions on capacity. However, cost structures still matter forthrough the cycle equilibrium.

    Meanwhile, this reporting season has a common theme