Commodity Rout Erases 1.2 Trillion In Mining Stock Value

The much-hyped commodity supercycle could be dead before it has even properly begun. After a  bright start to the year that saw commodities and metals like copper, nickel, aluminum, zinc, and tin take out all-time highs, the commodity markets have gone into a sharp correction that has erased virtually all of their earlier gains.

This phenomenon has been linked to investors reversing bullish bets on everything from oil and copper to corn and wheat in the latest sign of recession fears gripping financial markets. Despite historically low stockpiles…