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Supply is key to commodities’ volatile year

Posted on 23 December 2014

“Demand hasn’t been bad,” Ivan Glasenberg, chief executive of Glencore, one of the world’s resource companies, told investors this month. “Demand is still growing even in oil, iron ore and thermal coal. So why have prices come down? Well . . . we have all invested too much . . . and increased supply in a big manner.”
Supply has been the key narrative in commodity markets this year, determining the winners and the losers in everything from nickel to soyabeans. It is the reason commodities are on course to be the worst-performing major asset class for a third consecutive year. The Bloomberg Commodity index has fallen 14 per cent in 2014 to a five-year low………………………………………..Full Article: Source


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