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Commodity prices returning to cycles

Posted on 05 October 2012

Metals and bulk commodities are returning to their longer-term pattern of “cyclicality” and “lower real prices”, analysts say, as the pace of China’s rapid industrialisation of recent years cools. After warning last August the iron ore price could drop to $US83 a tonne – which it almost hit in its recent slump – Morgan Stanley’s commodity team today revised lower their price forecasts, including sharp downgrades to iron ore and coal, Australia’s two largest exports.
It comes after Deutsche Bank this week made a raft of downgrades in their commodity review after the close of the third quarter, slashing their expectations for bulks 15 per cent over the next 18 months and 5 per cent to 10 per cent over the medium term………………………………………..Full Article: Source


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