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Richard Perkins is senior commodities adviser at WWF.
"The steel mills are caught between a rock and hard place, but it's of their own making," said Mark Pervan, the senior commodities analyst at Australia & New Zealand Banking Group.
But Sebastien Marlier, the senior commodities editor at the Economist Intelligence Unit, remained doubtful that the current rally would last: "Overall, demand growth is still slower than last year.
"Fortescue are trying to be the good guys for the Chinese," said Mark Pervan, a senior commodities analyst at ANZ. "They are the new kid in town and want to secure relationships with the big consumers.
The price of orange juice concentrate has risen 21% since June to more than $2 a lb on the New York futures market, a level described as "astronomically high" by Andres Padilla, a senior commodities analyst at Rabobank based in Brazil.
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Daniel Pavilonis, senior commodity broker with RJO Futures, said the next target for prices is likely the 2008 low.
Daniel Pavilonis, senior commodity broker with RJO Futures, said the situation was only likely to get worse for those employed in the US energy sector.
"None of the rules have been laid out, so we don't know," said a senior commodity manager at a major international bank, who asked not to be identified.
This must be enervating for the royalist stalwarts of the Grand Old Party, who have traditionally bestowed their nomination on the most solid, senior commodity available to them — Nixon, Ford, Reagan (but only after several tries), Bush the Elder, Dole the Husband — and let the Democrats take flyers on unknown governors from the Deep South.
"There are not many bullish factors," said Avtar Sandu, senior manager for commodities at Phillip Futures.
"The easiest path for oil is down," said Carsten Fritsch, senior oil and commodities analyst at Commerzbank in Frankfurt.
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