Commodities Snap Five-Year Losing Run as Oil, Metals Rise: Chart

(Bloomberg) -- Commodities are back from the brink. Raw materials will on Friday cap their first annual rise since 2010 after gains in energy and metals such as zinc and copper. “I see a challenging year ahead, considering how much good news has already been priced into both industrial metals and oil,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “The direction of commodities in 2017 will depend on China’s economic growth trajectory, Trump’s ability to deliver his growth plans without damaging global trade, the dollar and, not least, OPEC’s ability to deliver the promised production cuts.”

To contact the reporters on this story: Ranjeetha Pakiam in Singapore at rpakiam@bloomberg.net, Martin Ritchie in Shanghai at mritchie14@bloomberg.net. To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, Jake Lloyd-Smith, Keith Gosman