22.06.2016 - Commodities prices could remain low for the next decade
A glut in a number of commodities could see prices stay at these levels for the next 10 years – that’s according to BHP Billiton Limited CEO Andrew Mackenzie. Mackenzie says the supply of crude oil and copper would decline naturally, but the huge investments by miners around the world since 2008 in other bulk commodities like iron ore, could see the effects of oversupply last for years. “The reality is we’ve settled down now to a price that we would say is more realistic on the basis of fundamentals of supply and demand. We’ve had such a long boom. To walk that through in my view may take another 10 years,” he said...............................................Full Article: Source
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