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Commodities will be stagnant through 2013

Posted on 11 April 2013

Lack of demand in the year ahead will dampen commodity prices, according to a senior economist. The S&P GSCI TR index of commodity prices – which incorporates energy, agriculture, and both industrial and precious metals – has fallen by 2.2 per cent so far this year.
For John Greenwood, chief economist at Invesco, there are no short-term factors that will reverse this slide, only ones that will aggravate it. ‘Looking forward,’ he said, ‘in contrast to previous business cycle upswings it is highly unlikely that in 2013 any of the major economies will see a surge of liquidity or a sudden upswing in business activity of the kind that would be needed to generate a sustained surge in demand for commodities.’……………………………………….Full Article: Source


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