Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
986284 | Resources Policy | 2013 | 12 Pages |
Abstract
•An increasing number of commodities are being priced on commodity exchanges.•The major advantages of exchange determined prices are illuminated.•The shift from producer pricing to exchange determined pricing in aluminum, nickel and oil is detailed.
A continuously expanding group of commodities are being priced on commodity exchanges. This paper explains the causes to the increasing preference of exchanges as pricing instruments. It also provides the detail of the shift in the 1970s and 1980s from producer determined prices to prices set by commodity exchanges for three major commodities—aluminum, nickel and petroleum.
Related Topics
Physical Sciences and Engineering
Earth and Planetary Sciences
Economic Geology
Authors
Marian Radetzki,