(BLOOMBERG) -- After a summer breather, the commodities the world relies on for construction, manufacturing and keeping the lights on are surging again. China’s emissions clampdown has also seen nickel hit the highest since 2014 and pushed local steel prices higher. Iron ore futures in Singapore are down about 45% from a peak set in May as China’s steel restrictions crimped demand expectations. Even so, there are signs that high commodity prices are further feeding through to consumers. Data last week showed China’s factory-gate inflation accelerated to a 13-year high, while prices paid to U.S. producers increased more than forecast.
