Commodities also at record lows
Posted by admin . Published on 06 February 2009, Received
Crude oil prices were at multi year high of 147 dollars few quarters back. All the industrial metals like Copper, Zinc and Aluminum were reaching record highs in the beginning of 2008. Every analyst was talking of commodities reaching further highs in 2009, but nobody predicted that the commodity prices will touch multi year low so quickly.
All the industrial commodities plus the Crude oil have reached multi year lows this month, due to crashing demand from US, Japan, China and Europe. With no signs of any sharp recovery in any of these markets, we can expect the commodity prices to remain low for some more months to come.
But as and when the global economic recovery happens, commodities could be the front runners in terms of price recovery.
