UK-based financial institution Barclays Capital expects that, while the commodities outlook for 2009 is inauspicious, there are signs that the market has begun to bottom out. Addressing delegates at the 2009 Mining Indaba, in Cape Town, Barclays capital director of commodities research Kevin Norrish states that the last five months has been exceptionally tough for the mining industry in terms of decreased demand for commodities, which has depressed prices. The speed of the commodities price decline has been unprecedented and he adds that this is evidenced by the fact that industrial and energy commodity stocks have lost 60 percent of their value in the last five months. However, he believes that the commodities market is beginning to bottom out and the price of industrial commodities is starting to stabilise.
展开▼
