| For the first time since 2009, supply growth for the majority of major metals and bulk commodities is expected to be negative year-on-year. Global mining capex peaked in 2012, and we are now experiencing a lag effect of fewer new projects. Existing operations are facing more aggressive cuts amid weaker prices, so production growth has been curtailed.
In more familiar times, this might be considered a buy signal for nickel, palladium and iron ore, or their sharemarket proxies? In this case though, many markets enter the year from an oversupplied situation, so even a drop in mine supply won’t be enough to fully bring things back to balance...............................................Full Article: Source
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