With large purchases of iron ore, copper and oil, China has been taking full advantage of depressed commodities prices and excess production capacity. Now, the Red Dragon is making its presence felt in the natural gas market – landing two blockbuster deals in the past two weeks.

Iran may be part of President Bush’s “axis of evil,” but Taipan Publishing’s Sara Nunnally says it is also a major player in the global commodities market that is now looking to expand its output.

Ambitious new projects to develop the steel and natural gas sectors will dramatically boost production. China and Russia are rushing in to secure supplies. But sanctions prevent the US from investing in Iran.

Sara says ongoing suspicion over Iran’s nuclear program will keep it off the investment table for much of the Western world…

1-2-3 Trader editor Jim Stanton says commodity ETFs are riding the three-point waves of a downturn. After the first trough, the stock stages a small rally, before heading back down. This pattern provides good buy and sell signals for resource investors. Jim says ETFs United States Oil Fund (AMEX: USO) and United States Natural Gas Fund (AMEX: UNG) have further short-term corrections ahead, meaning an opportunity to go short.

Charles Delvalle at Investor’s Daily Edge says forecasts for a cold winter should drive up natural gas prices. This makes natural gas producer and explorer Chesapeake Energy (NYSE:CHK) a top investment play this fall…

It’s a difficult time for commodities bulls. Crude oil is off more than 20% from its July peak. Gold is going for about $830 an ounce, way off its Spring highs. And the Reuters/Jefferies CRB Index is down 19% from its June high.

Energy expert Byron King says investors shouldn’t panic over the drop in prices. For a start, August is a notoriously poor month for commodities. It tends to be a month of net selling.

Despite some demand issues caused by the global slowdown, Byron says commodities are in a short-term correction. And that means plenty of great bargains on offer…

Only crazy people would invest in Russia, right?

Wrong, says Smart Commodities UK editor Garry White. Now is a great time to snap up some Russian assets.

Although Russia is currently involved in fighting in Georgia, don’t expect it to last long. Russia has made its point. Georgia has been cowed. And there’s no reason to fear Russia’s brand of pugnacious capitalism – even authoritarian capitalists need customers to survive.

Here are Garry’s top five reasons to consider investing in Russia…