Energy

A commodity supercycle depends on China, CBA says

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SINGAPORE — Commodity prices are going up but whether that continues for an extended period of time — known as a supercycle — depends on China, an economist said Thursday.

The last supercycle happened in the mid-2000s before the global financial crisis and peaked in 2008 as China grew to become a commodity powerhouse.

Prices for commodities like oil and base metals have rebounded strongly from last October on the back of positive news about Covid-19 vaccine trials, Vivek Dhar, a mining and energy economist at the Commonwealth Bank of Australia, said on CNBC’s “Squawk Box Asia.”

“Now, the question that we’re talking about, in terms of supercycle or not, in our view, it still lies in…



Source cnbc.com

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