The retreat of commodity prices on the back of China’s economic shift belied rising levels of uptake and the likelihood of an upcycle later in the decade, CRU Group managing consultant Philip Macoun told an audience at the recent Prospectors and Developers Association of Canada convention.
However, oversupply in China continued to weigh on short- to medium-term commodity performance. “[The price slides are] not so much due to the fall in import volumes but excess supply,” Macoun said.
