Could the bull market in commodities be over? Just weeks after hitting all-time highs, some commodities markets have suffered major corrections. London Metal Exchange copper for delivery in three months, for instance, has dropped around 20% since touching a record high of $8,600 a tonne on May 11, while aluminium has fallen by roughly the same amount since hitting an 18-year high of $3,185 a tonne on the same date.
Returns over the year are still looking pretty healthy, however. An investor i