UPDATE 2-Cheap commodities to spur global growth, China a bright spot - Trafigura

lunes 8 de diciembre de 2014 08:11 GYT

* Dauphin sees predictions of Chinese slowdown exaggerated

* Core earnings, gross margin rise in 2014

* Fixed assets flat despite big divestment (Updates with Dauphin comments, details from report)

By Dmitry Zhdannikov

LONDON, Dec 8 (Reuters) - Lower commodities prices will spur the global economy and China remains a boon for raw materials despite the country's recent weak data, Swiss trading house Trafigura's founder Claude Dauphin said on Monday as his firm reported a rise in core earnings.

"It is also worth remembering that current lower commodity prices will themselves act as a boon to the world economy, along with lower freight and financing costs," Dauphin, Trafigura's executive chairman, said in a statement.

He said Trafigura, one of the world's largest commodities traders, was insulated from sharp price fluctuations because it hedges price risk. "But we are not indifferent to the benefits of falling prices for growth," Dauphin added.

Oil prices have fallen by 40 percent since this year's peak in June on oversupply fears, while the broader 19-commodity Thomson Reuters/Core Commodity CRB Index has fallen by a fifth.

Unlisted Trafigura said in its annual report capital investment during the year to September 2014 was $1.7 billion, slightly lower than the $2 billion invested in 2013.   Continuación...