Commodity trade and finance by Michael Tamvakis

By Michael Tamvakis

What impacts the provision of oil? How vital is the elements in opting for grain costs? Why has the cost of copper skyrocketed?

This targeted book analyses the economics of key commodity teams, together with strength, agriculture and metals. It examines the supply/demand basics of a number of significant and minor commodities, actual features, construction and intake styles, alternate flows and pricing mechanisms. It additionally explains the major instruments used to hedge rate hazard, reminiscent of futures, concepts and swaps.

This moment version comprise has been totally revised and restructured, and comprises four new chapters, together with oil refining, electrical energy and cost hazard administration for power, metals and agricultural commodities

This ebook is an imperative reference textual content for college students, lecturers and people operating within the commodity business.

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Finally, nuclear is the basic energy form embodied in atomic nuclei. Changing of these atomic nuclei, either by fission (splitting) of heavier elements, such as uranium, or fusion of lighter elements, such as hydrogen, releases large amounts of heat. A common example of the former reaction is what happens in a nuclear reactor, while the latter is what produces the energy emitted by the sun. It is already evident from the above that the various types of energy do not work in isolation. On the contrary, what we observe continuously are various types of energy transforming from one form to another.

This states that the energy in an isolated system is constant. Energy can be transformed from one form to another but cannot be created or destroyed. This leads on to the second law of thermodynamics, that of entropy. e. how much of the energy that is transformed can be channelled to useful applications, rather than waste heat). For example, the amount of kinetic energy that can be created from the chemical reaction of burning a fuel determines how efficient a car engine is – this is most commonly expressed in terms of mileage per gallon or litres per 100 kilometres.

Includes bibliographical references and index. ISBN 978-0-415-73245-1 (hardback) – ISBN 978-1-315-76741-3 (ebook) 1. Primary commodities. 2. Primary commodities – Prices. 3. International trade. 4. Commodity exchanges. I. Title. 28 Zero-cost collar 1 Fundamental energy economics Although all main groups of commodities are of paramount importance to our everyday lives, energy is the one that manages to capture our immediate attention, particularly in times of crises. Both by value and volume, energy constitutes the largest of the key commodity groups (the other two being metals and agriculture).

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