| A painful consolidation across commodity markets has longer to run and prices need to sink further below the cost of production to lure buyers and cut huge global stocks, an executive at DBS Group Holdings said on Thursday. DBS, Singapore's biggest bank, stepped into commodities after the 2008/2009 financial crisis and said two years ago it aimed to double business annually.
"Production expansion from the bull era is catching up with the market and it will need some time to digest the oversupply. Prices ... need to come down to the level that would shut down production and encourage more consumption," Leong Chean Wai, DBS head of commodity derivatives, told Reuters...............................................Full Article: Source
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